Outgoing National Food Authority (NFA) Administrator Anthony Abad said the rice imports are scheduled to arrive in the first quarter instead of the usual second quarter to make sure the government has adequate buffer stock to augment the shotfall in local rice supply.
Abad said the final volume has yet to be decided upon, as the Bureau of Agricultural Statistics (BAS) still has to make its final rice production for 2003.
"Initial figures show that 800,000 MT might be needed, but everything will depend on the rice price and supply situation in the first quarter. If 800,000 MT is not enough, we might need to import more," said Abad, adding that BAS will constantly be updating and validating its survey of palay production.
Abad said the government is looking at India, Vietnam, Thailand and China as possible sources of rice imports.
The NFA wants to bring in the rice imports earlier than usual because early estimates of the BAS show that even with an anticipated 4.7 million MT to five million MT of palay harvest in the fourth quarter, palay production for the whole year is still at 12.7 million MT, which is below the 12.95-million MT target.
Abad said the El Niño weather phenomenon although expected to hit the country next month, has already hit major rice-producing regions and whether it will be a mild one or a severe one, domestic production is still inadequate to meet consumption.
The NFA usually keeps a 30-day buffer stock level to meet the estimated domestic daily rice consumption of 25,700 MT.
Earlier, Abad said the NFA has been injecting an average of 6,549 MT of rice to the local market everyday to keep prices stable. This is about 25.48 percent of domestic consumption, much higher than last year’s 4,597 MT showing the local market’s dependence on NFA for rice supply.
On the other hand, this year’s total rice importations reached 1.14 million MT, up by 46 percent from last year’s 781,000 MT level.