The Philippines Plans to Reduce Rice Imports

(Source: Oryza.com)

The Philippines Agriculture Department (DA) is planning to cut rice imports during the harvest time to stabilize supply and prices, and protect small farmers, reports Bloomberg.

To reduce imports, the DA is planning to impose anti-dumping duties on rice imports during the harvest season. It also considering stringent sanitary and phytosanitary and inspection measures on imports.

“We will enforce legal measures during these times when we have greatly exceeded the volume needed to pick up the slack in national rice supply,” the Agriculture Secretary was quoted.

The Philippines rice prices have fallen sharply since the government lifted the quantitative restrictions on rice imports and liberalized the imports. The government implemented the Rice Tariffication Law from March 15 this year.

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05/07/2022
Rice
Vietnam
Thailand
India
Pakistan
5% Broken
418 0 418 5 343 0 388 0
25% Broken
403 0 407 4 328 0 368 0
100% Broken
383 0 385 -2 328 5 366 0

From 23/06/2022-30/06/2022
(VND/kg)

Rice
Max Price
Average
+/- Weekly
Paddy in the field
      5.800        5.664  +68 
Paddy at the warehouse       7.150        6.642  +25 
Brown rice grade 1       8.950        8.833  -29 
Milled rice grade 1        9.600        9.450  -8 
5% broken
      9.350        9.193  -14 
15% broken
      9.150        8.933  -17 
25% broken
      8.950        8.700  -17 
Broken 1/2       8.750        8.507  +29 
Bran
      9.150        8.850  +57 

Exchange Rate

05/07/2022
Currency Code Currency Name Units per USD
CNY Chinese Yuan Renminbi 6,72
EUR Euro 1,03
IDR Indonesian Rupiah 15012,44
INR Indian Rupee 79,25
MMK Burmese Kyat 1852,31
MYR Malaysian Ringgit 4,42
PHP Philippine Peso 55,43
PKR Pakistani Rupee 206,40
THB Thai Baht 35,97
VND Vietnamese Dong 23404,00