Philippines halted rice importation due to sufficient supply — Palace

The Philippines shelved plans to import rice from Vietnam after the government found there is enough supply of the staple food amid the COVID-19 pandemic, Malacañang said Monday.

“Sapat po ang ating supply ng bigas kaya po hindi na tinuloy ang pag-aangkat,” presidential spokesperson Harry Roque said in a televised briefing.

Roque did not give figures.

The country was supposed to import 300,000 metric tons (MT) of rice from Vietnam after the Southeast Asian country lifted its ban on rice exportation, but Trade Secretary Ramon Lopez said last Friday that this would no longer push through.

Vietnam serves as a major import source of the Philippines, accounting for over 90% of the country’s rice imports, the Department of Trade and Industry said. It also said that the Philippines imports around 7% to 14% of its total rice requirement.

Under the implementing rules and regulations of the Rice Tariffication Law, the President, in the event of a rice supply shortage, may direct the Secretary of Trade and Industry and the Philippine International Trading Corporation to purchase the needed rice supplies from domestic and foreign sources to enhance market competition and stabilize rice prices.

Effective March 2019, the Philippines allowed the unlimited importation of rice —through the private sector — as long as traders secure a phytosanitary permit from the Bureau of Plant Industry and pay the 35% tariff for shipments from neighbors in Southeast Asia. — RSJ, GMA News