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‘Govt won’t import rice to boost buffer stock’
11:03:01 AM | Tuesday, March 7th, 2017

Source: http://www.businessmirror.com.ph
Author: Jasper Y. Arcalas

Any views expressed in this article are those of the author and not of Philippine Statistics Authority.

The interagency National Food Authority Council (NFAC) said it has rejected proposals to import rice via a government-to-government transaction in the first half of the year to boost the country’s buffer stock.

Cabinet Secretary Leoncio B. Evasco Jr., ex-officio chairman of the NFAC, said National Food Authority Administrator Jason Laureano Y. Aquino’s proposal to import via government to government was thumbed down by the council.

In an interview last Thursday, Undersecretary Maia Chiara Halmen Reina A. Valdez of the Office of the Cabinet Secretary (OCS) said Aquino wanted the NFA to purchase 1 million metric tons of imported rice to beef up the country’s buffer stock.

“When you import via government to government, the NFA would again incur debt, while rice imported under the minimum access volume [MAV] is paid for by the private sector,” Evasco said in a statement.

Read more: http://www.businessmirror.com.ph/govt-wont-import-rice-to-boost-buffer-stock/

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