RP rice imports hike world market prices
MANILA - The Philippines is likely to go back to the global rice market after a 250,000 tonnes import tender on Nov. 4 as it seeks to lock in supply for its 2010 needs before prices start rising, a senior state official said on Monday.
"We're going to most likely buy again," Ludovico Jarina, deputy administrator at the National Food Authority, told reporters when asked if there would be more rice import tenders this year.
But it may be too late.
Rice prices have already risen in the world market as traders anticipate more demand from the world's largest rice importer.
Bloomberg said rice for November delivery was up 0.3% in the Chicago Board of Trade at 4 p.m. on Monday, reversing a loss of 0.5%.
Trading prices for the rice commodity was already at its highest level since January.
The Philippines has been buying imported rice either through a government tender or via government-to-government deals with countries such as Thailand and Vietnam.
Major rice producing regions were hit by back-to-back typhoons Ondoy and Pepeng (international code names Ketsana and Parma), damaging billion pesos-worth of crops and infrastructure (Read: Agriculture is most watched among typhoons’ damage tally)
Meanwhile, the NFA is also planning to sell some P27 billion worth of 10-year domestic bonds on October 26 to fund its operations and pay its maturing debt.
The NFA added that the offering may be divided into several tranches depending on the market. - with Reuters
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Poor Farmers
I was really disappointed from what we have experienced yesterday; the buying price of Palay from Bulacan now is P12.00 a kilo. And if you could imagine, it is quite cheaper than one bottle of mineral water from the local market usually cost P22.00. IMAGINE, mineral water is more EXPENSIVE THAN PALAY?????
What the Government’s doing to our poor farmers? Especially the NFA administration that’s concern is to buy huge of rice from other countries in order to get more income rather than of buying rice from our poor farmers…???? Imagine, from one hectare of rice field usually the poor farmers spent around P25, 000 to P30, 000 for the fertilizers plus other labor services. Then if you will sum up the income and deduct the expenses, what you will earn is nothing. So the poor farmers would most likely to sell their rice field to land developers rather than to continue their miserable life. I am pity with all these farmers including myself for having a bad administration and bad people around us.
We were expecting that the price of palay this time would be a little bit better that last year considering the fact that most of the palay producers, like Cagayan, Nueva Ecija, Pampanga, Laguna and Pangasinan have been devastated by the recent typhoons, Apparently, what happened were not affected by typhoons but we were most affected by the punishment of Gloria’s administration.
Sad to say, these time I have decided to sell my 8 hectares rice field to land developer and my relatives have also decided to sell their rice field. I am pretty sure the NFA Government would be the most happiest people if all the farmers will sell their rice field so that the GOVERNMENT WOULD CONTINUE TO BUY EXPENSIVE RICE FROM THE OTHER COUNTRIES… the money is there and it is easy to earn huge money rather than from the poor farmers from the Philippines specially from BULACAN & PAMPANGA REGION.
Sa mga kababayan kong magsasaka sa BULACAN AT PAMPANGA. Naaawa po ako sa hirap ng buhay natin dinadanas, pero mas mahirap po kung patuloy tayong pahihirapan ng ATING GOBYERNO LALO NA PO ANG NFA... ang tingin po namin ngayon sa NFA ay worse sila than to NPA (New People Army) buti pa ang NPA may pusong masa, pero ang NFA (National Food Authority) ang puso ay patayin sa sama ng loob ang magsasaka. Panahon na po para gumising ang taong bayan... Iboto po ninyong muli ang mga kandidato ni Gloria para mas maraming FILIPINO ang mamatay sa gutom ng sa ganuon sila na lang ang matitira sa PILIPINAS.
Kawawang magsasaka…
VOTE FOR GLORIA to shorten your life…. It is better to die early rather than to die later.
VOTE FOR VILLAR to convert all agricultural land to Industrial business.
VOTE FOR ERAP to convert all rich people to BECOME MA-hERAP (poor).
VOTE OUR REDEEMER to protect our land.
MAY GOD BLESS US ALL…