Philippine private sector required to import cheap rice
The Council of the National Food Authority (NFA) of the Philippines has approved the importation of 805,000 tonnes of Minimum Access Volume (MAV) of rice this year, a government statement said on May 23.
Hanoi (VNA) – The Council of the National Food Authority (NFA) of the Philippines hasapproved the import🧜ation of 805,000 tonnes of Minimum Access Volume (MAV) ofrice this year, a government statement said on May 23.
MAV refers to the volume ofcommodities that is allowed to be imported by a member country of the WorldTrade Organisation. The 2017 Minimum Access Volume is the last of its kindbefore the lifting of the quantitative restriction on rice by June 30 thisyear.
Philippine Cabinet SecretaryLeoncio Evasco 🅺said the council has also directed the NFA Management to amendthe MAV guidelines to require participating traders to import 25 percent brokenrice from the 25 to 35 percent quota.
He added that it will ensure adequacy of supply andstability of consumer prices at levels within the reach of low-incomefamilies.-VNA
The Philippines’ rice stock as of January 1 dropped by about 15 percent to 2.12 million metric tonnes (MT) from the previous month’s 2.49 million MT, according to the country’s Bureau of Agricultural Statistics.
The Philippines’ National Food Authority initially approved the importation of 600,000 tonnes of rice in 2015 amid lower rice production and damage inflicted by typhoons this year, Manila Standard Today reported on December 12.
Vietnam will continue to supply up to 1.5 million tonnes of rice per year to the Philippines as the rice trade agreement between the two countries has been extended to December 31, 2018.
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Illustrative image (Source: www.manilatimes.net) 
