Rice industry group: 300,000 MT imported rice to arrive August-September

A rice industry group on Saturday said 300,000 metric tons of imported rice was set to arrive though they were unsure if this would help lower market prices in the country.

According to a Bernadette Reyes report on "24 Oras Weekend," the Philippine Rice Industry Stakeholders Movement (PRiSM) said that about 300,000 MT of rice is scheduled to arrive this month and in September.

"We assured the President that at least 300,000 metric tons is coming in this August and mayroon din sa September. I am not sure [kung gaano karami ang darating sa September] But they said, mga 300,000 ang darating. August-September na 'yun,” said Rowena Sadicon, PRiSM Founder and Lead Convenor.

However, PRISM was not sure if this would lower rice prices.

"Yun ang challenge talaga, ang presyo. Dahil nag shoot ang presyo sa world market. Ang India kasi, nag export ban sila. Forty percent ng supply ng buong mundo, nanggagaling sa India," Sadicon explained.

On Friday, Department of Agriculture (DA) Senior Undersecretary Domingo Panganiban said the agency opened talks with Vietnam and India "upon the directive of President Ferdinand Marcos Jr."

As a result of continuing talks, Panganiban said, "some Vietnamese exporters have quoted our private traders $30-$40 lower since our [last] meeting in Malacañang."

However, the Federation of Free Farmers Cooperatives said we must not rely on talks since other countries are also negotiating with India and Vietnam.

"That is diplomatic chitchat. Of course, they will supply because they need to seel their surplus. Pero, at what price? Kung nago-offer ibang bansa ng let's say $700 per tonne, do you think they will sell it to us at $500?" said FFFC National Manager Raul Montemayor.

Also, Bantay Bigas spokesperson Cathy Estavillo wondered why the government was still focusing on rice importation instead of strengthening local production.

Early this month, DA Undersecretary Mercedita Sombilla said the agency was eyeing to import another 1.3 million metric tons of rice.

Marcos earlier assured the Filipino people that the DA had enough supply of rice despite the agricultural damage left by Typhoon Egay in Northern Luzon and the El Niño phenomenon. — Sherylin Untalan/DVM, GMA Integrated News