After setting record-high imports this year, the Philippines plans to buy less rice from foreign markets next year amid excessive supply coupled with improvement in local production.
The Philippines plans to buy less rice from foreign markets next year amid excessive supply coupled with improvement in local production. (Photo: Philippine Department of Agriculture)
Singapore (VNA) – After setting record-high imports this year, thePhilippines plans to buy less rice from foreign markets next year amidexcessive supply coupled with improvement in local production.
In the latest report of the US Department of Agriculture-Foreign AgriculturalService (USDA-FAS), the Philippines is expected to import 2.4 million tonnes, 23percent lower than this year’s 3.1 million tonnes.
The forecast is given as milled production is projected to increase by 3percent to 12 million tonnes, while total palay production will inch up 2percent to 19 million tonnes.
Philippine farmers will continue planting rice despite low prices, andprogressive rice producers will become more efficient next year, the USDA said.
Although area harvested is pared down, rice output next year will increaseslightly due to favourable weather conditions compared to this year with ElNino. Along with adequate inventories, rice imports are expected to decline in2020.
The government identified increasing food prices, particularly rice, as a majorcontributor to inflation last year, which peaked 6.7 percent in last October,the highest in nearly a decade.
According to USDA-FAS, the country’s mid-term elections in May and the initialimplementation of agricultural policy reforms, most notably the RiceTariffication Law resulted in a surge of imports this year. DuringMarch-August, the Philippines imported 1.3 million tonnes of rice./.
The Philippines is seeking to import 300,000 tonnes of corn to cover a shortfall in the domestic supply caused by the El Nino dry spell and to prepare for the expected dramatic growth of local hog and poultry sectors, said Philippine Agriculture Secretary Emmanuel Pinol on May 21.
The Philippines has expanded the temporary ban on the importation, distribution and sale of pork meat products from 16 to 20 countries and regions affected by the African swine fever (ASF) virus.
The Philippine Statistics Authority (PSA) reported on August 8 that the gross domestic product (GDP) growth slowed to 5.5 percent in the second quarter, its slowest pace in four years.
The International Monetary Fund (IMF) has further slashed its economic growth forecast for the Philippines for 2019 and 2020 to 5.7 percent and 6.2 percent, respectively, as the economy slowed down in the second quarter and external environment worsens.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
The Philippines plans to buy less rice from foreign markets next year amid excessive supply coupled with improvement in local production.
