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Home / Economy / Agriculture
Philippines wants to import more rice from Vietnam
By Tuan Minh 16:05, 2016/01/06
The Philippine National Food Authority (NFA) is planning to import at least 50,000 tons of rice from Vietnam and Thailand in an effort to have a sufficiency of rice throughout the country this year.
According to research site specializing in market analysis of world rice - Oryza, NFA is planning to import more rice from Vietnam and Thailand in 2016. Although stockpiles in the warehouses have been added in many areas; including Caraga region, NFA has additional plans to import more rice stocks during disaster or catastrophe that could happen this year.
 



Reportedly, checking the NFA warehouse is to ensure that stockpiles are secured and not difficult to access in case of untoward situations occur. Previously, the agency has entered the target of 300,000-400,000 tonnes to increase reserves when El Nino happens. In contracts for the first quarter of 2016, the NFA will import 500,000 tonnes from Vietnam and Thailand.

In 2015, the Philippines imported 1.8 million tonnes of rice. For 5% broken rice cost ranges $355-$360 per tonne and USD began to rise from December, 2015. Despite more rice stocks currently deposited at various areas, including the Caraga region, the NFA made the plan to ensure enough food during times when disasters may occur. According to NFA Administrator Renan B. Dalisay, the agency will import at least 50,000 tonnes of rice from the two countries. The top NFA official is on a working visit from January 4- 6 to inspect the agency’s warehouses and various markets in the Caraga region.

The move is to make sure that rice stocks are secured and not vulnerable to isolation in case of untoward eventualities. He also held meetings with the agency’s regional, provincial and city officials as well as directed regional officials of the NFA in the Caraga region to make repairs of some warehouses that are being partially damaged by a series of typhoons since 2013.

In 2015, Vietnam exported 6 million tonnes of rice. The average export price of a year at only 410 USD per ton, down 7% from the same period in 2014.

According to the Vietnam Food Association (VFA), calculated from the beginning of this year, Vietnam has exported 6.007 million tons, down 5% compared with the same period last year (6.33 million tons). In which, in December Vietnam exported 200,053 tonnes, down 74% compared with November and 58% over the same period in 2014.

Average rice prices in December reached 370 USD per ton, down 22% from last year. But the average prices of the year reached 410 USD per ton, down 7% compared to 2014. Compared to Thailand, exports rice from Vietnam still lags quite far, as the country currently has exported 9.3 million tonnes and is about the finish of the plan.
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