PH to import 4.5M tons of rice after losses from storms

The Manila Times

PH to import 4.5M tons of rice after losses from storms  President Ferdinand Marcos Jr. on Nov. 15, 2024 says the Philippines may need to import close to 4.5 million tons of rice due to agricultural losses caused by the recent typhoons. 'But we have already in place the prices of rice, imported rice have gone down significantly since last year. We are not in competition like during the El Niño period,' he said.  Video by Catherine Valente  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe   Visit our website at https://www.manilatimes.net     Follow us:  Facebook - https://tmt.ph/facebook   Instagram - https://tmt.ph/instagram   Twitter - https://tmt.ph/twitter   DailyMotion - https://tmt.ph/dailymotion     Subscribe to our Digital Edition - https://tmt.ph/digital Sign up to our newsletters: https://tmt.ph/newsletters    Check out our Podcasts:  Spotify - https://tmt.ph/spotify   Apple Podcasts - https://tmt.ph/applepodcasts   Amazon Music - https://tmt.ph/amazonmusic   Deezer: https://tmt.ph/deezer  Tune In: https://tmt.ph/tunein  #themanilatimes #tmtnews  #philippines

Transcript

00:00I'm sorry, I don't know in terms of food security. We're all right, but

00:16we will just have to have to compensate for that.

00:30We just came out of El Nino, although during the El Nino time we had the highest production

00:39for that season. So that's going to be something that's going to be something that will require

00:52attention.

00:58I think so. Unfortunately, I just received a report from the DA. We will import close

01:09to 4.5 million tons, like 3.9 last year. The upper estimate is 4.5. But we have already

01:20in place the prices of rice, imported rice has come down significantly since last year.

01:28And we are not in competition like during the El Nino period. During the El Nino period,

01:33all Asian countries were hit. That's why the price went up because everyone is buying.

01:40Here, because we're getting lucky, we're the only ones getting hit. We were hit, so we're

01:46not competing. So the prices are staying at about 400 plus, $400 per ton. So that's still

01:54a lot. So our imported rice should be at that price. Of course, we'll do everything

02:06to control the price of all the food, especially all of those products that have been damaged

02:13or destroyed by the people.

Category

Transcript

Recommended