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Philippines sees end-2020 rice stocks at 3.3 mln T, highest in 10 years

Published 05/12/2020, 12:09 PM
Updated 05/12/2020, 12:10 PM
© Reuters.

MANILA, May 12 (Reuters) - The Philippines will end the year
with a rice inventory of 3.3 million tonnes, a government
official said on Tuesday, as the world's biggest rice importer
ramps up purchases of its staple food while also trying to boost
domestic output.
An inventory of that size would be the Philippines' biggest
year-end stockpile in 10 years, data from the Philippine
Statistics Authority showed.
"Going into the lean months and onto December 31, 2020, we
have enough supply of food, and that includes our major staple –
rice," Agriculture Secretary William Dar said in a statement.
The lean months are from July to September, when the local rice
harvest is usually low.
The projected year-end inventory can cover national
consumption for 94 days, he said.
The projection takes into account the 300,000-tonne rice
imports now being undertaken by the government, the first by the
state since the Philippines lifted a two-decade-old quantitative
restrictions on rice imports last year. The additional rice imports would raise the Southeast Asian
country's total imports so far this year to a record 3 million
tonnes, exceeding last year's purchases estimated at 2.9 million
tonnes.

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