Senator Imee Marcos has assured rice farmers that the government need not import rice until next year.
This is because local supply would surpass consumer demand and make the issuance of new import clearances unnecessary, she explained.
“The DA (Department of Agriculture) has no reason to call for any more rice imports which will only push down farmgate prices of palay. Our farmers are doing a great job producing more than ample domestic supply,” she said.
“Also, there are no remaining valid sanitary and phytosanitary import clearances (SPS-ICs) to justify more rice imports this year,” Marcos added, citing the DA’s Rice Supply Outlook.
Marcos, elder sister of President Ferdinand E. Marcos Jr., explained that the projected 5.13 million metric tons (mmt) of locally grown rice in the third quarter would exceed domestic demand of 3.7 MMT and provide a buffer stock of 1.43 MMT by the end of September.
In the fourth quarter, local rice supply is expected to reach 6.24 MMT against demand of 4.02 MMT, for an additional buffer stock of 2.22 MMT by the end of December.
In effect, rice harvests in the third and fourth quarters will provide the country with a total buffer stock of 3.65 million metric tons by yearend, good for 55 to 60 days.
The National Food Authority (NFA) is required to have a rice buffer stock of 15 to 30 days for national consumption.