Author: Malaya Business Insight
Any views expressed in this article are those of the author and not of Philippine Statistics Authority.
The National Food Authority (NFA) is pushing for measures that would ensure food security and counter the impact of the lifting of the waiver on quantitative restrictions (QRs) on rice imports last June.
One of these measures is a National Rice Reserve policy even in times of surplus.
Meanwhile, Malacanang yesterday assured the country has enough supply of rice despite the reported depleted buffer stock at the NFA.
The NFA said a National Rice Reserve should be in place even under a time of surplus because rice production is never assured or certain at all times.
This would also spare the country from exposure to price volatility brought about by global political and economic shifts.