Chinese Researchers Develop Rice
Strain That Increases Yield and Nitrogen Use Efficiency
Jun
12, 2015
Researchers from the Chinese Academy
of Sciences' Institute of Genetics and Developmental Biology in Beijing have
developed a new rice strain by cloning a gene called NRT1 (nitrogen booster
gene) from indica rice into the japonica's gene structure, according to South
China Morning Post.The new strain increases yield as well as nitrogen use
efficiency in the rice plants. It requires only half of the fertilizer normally
required by the traditional Japonica varieties.Farmers growing japonica
varieties in the northern provinces resort to heavy use of fertilizers because
the rice plants absorb nitride from soil and water at a very slow rate.
However, such high use of fertilizers has led to severe pollution of the soil,
water and air in most of the China's northern provinces.
Moreover, when nitric oxides are
released in to the atmosphere, they undergo a series of petrochemical reactions
that transform them into harmful material called 'smog'. Farmers have been
reluctant to cut down the use of fertilizers despite several warnings as plants
need nitride in order to grow healthy.On the other hand, Indica rice variety,
which is mostly grown in southern China provinces as well as in India, Thailand
and the Philippines, can absorb nitrogen more easily than the Japonica variety.
But it cannot survive in the cold climate.Therefore the scientists have used
nitrogen booster gene from the Indica variety and cloned into the Japonica
variety to get the best results. The study is published in the latest edition
of the Nature Genetics journal.The researchers noted that the discovery
represents an important milestone for the “green super rice project," an
international effort to develop new species of rice to meet the growing global
demand for food resources.
Oryza U.S. Rough Rice Recap -
Prices Continue to Weaken amid Weak Demand and Burdensome Stocks
Jun
12, 2015
The U.S. cash market was slightly
weaker again today as seller’s grow more concerned about the bearish USDA WASDE
report and the lack of export demand heading into new crop.Analysts note that
many of those with old crop rice left to sell will only have a couple more
months to make room for new crop and many will have to sell below their target
price unless there is a substantial increase in demand which has yet to be
seen.
Indian Basmati Rice Exports May
Pick Up Only After October, Say Exporters
Jun
12, 2015
Indian rice exporters are expecting
Iran to begin issuance of rice import permits after Ramadan in July, according
to local sources. However, they say Indian basmati shipments to the Middle East
nation may not pick up until October as stocks would be sufficient until
then. Iran banned rice imports in last November citing adequate stocks.They
also say the Iranian government requires Indian millers and exporters to
register with the Tehran's Health and Medical Education Ministry. The process
of registration has to be initiated by importers by furnishing a list of
intended exporters. The process may take a while say exporters. So far, very
few exporters are registered with the Iranian Ministry, according to the
Executive Director of the All India Rice Exporters' Association (AIREA). Currently,
the basmati export prices have fallen to around $1,000 per ton from around
$1,400 - $1,500 per ton during the same time last year. The Executive Director
of the AIREA told local sources that prices are lower because of a higher
production in FY 2014-15. Basmati rice production increased by about 35% to
around 8.1 million tons in 2014-15 from around 6 million in 2013-14.Exporters
are expecting prices to further fall due to an expected increase in basmati
acreage this year as well. Basmati acreage in 2015-16 is expected to increase
about 5% from around 2.1 million hectares last year.According to data from the
All India Rice Exporters Association (AIREA), India exported around 900,000
tons of rice to Iran in FY 2014-15, down about 36% from around 1.4 million tons
exported last year.
India 2015-16 Main Paddy
Rice Sowing Picks Up Amid El Nino Threat
Jun
12, 2015
Planting for India 2015-16 Kharif
(main) rice crop (June - December) which began on May 8, 2015 is picking up
fast and stands at around 471,000 hectares as of June 12, 2015; up about 4%
from around 452,000 hectares planted during the same period last year, and up
about 36% from last week’s 346,000 hectares, according to preliminary data
released by the Indian Agriculture Ministry.The total Kharif crop sown area
stands at 7.51 million hectares as on June 12, 2015, down about 9% from around
8.227 million hectares during the same period last year, according to the
Agriculture Ministry.A likely drought-inducing El Nino this year is expected to
lower production prospects this year.
In its second forecast for 2015, the
India Meteorological Department (IMD) has its estimate for this year's monsoon
rains to 88% of normal, from a previous estimate of 93% due to reports of a
strengthening El Nino. It is expecting rainfall to be 85% of the normal in the
states of Haryana, Punjab, Rajasthan and Uttar Pradesh. The IMD expects the El
Nino pattern to reach to moderate to a strong one during the monsoon season.The
government of India, in its third advance estimates for major crops, has
estimated India's rice production for 2014-15 marketing year (October 2014 -
September 2015) at around 102.54 million tons, down about 4% from an estimated
106.65 million tons in 2013-14, according to a statement from the agriculture
Ministry.
Myanmar Seeks to Strike a
Trade-Off Between Rice Exports and Prices
Jun
12, 2015
Economics says as exports increase,
domestic prices increase thereby affecting the purchasing power of local
consumers. If we relate the same principle to Myanmar rice exports and prices,
we understand that Myanmar, which was once a leading producer and exporter of
rice, is finding ways to balance the export and price scenario.Myanmar's rice
exports have been increasing for the last few years, though most of them are
targeted to China through the country's northern borders. The imports were
considered as illegal by the Chinese authorities. Recently, rice trade between
Myanmar and China has been legalized through a Memorandum of Understanding
(MoU). According to the MOU, Myanmar will export 100,000 tons of rice this year
to China legally.Though the south-east Asian nation is overtly depending on
China to increase its rice exports, it is also exploring other markets such as
African markets and is keen on reaching a 3 million ton rice export target
shortly. Authorities are expecting Myanmar to export 2 million tons of rice in
FY 2015-16 (April - March).
Myanmar's rice exports have been
increasing consistently for the last three years, according to the Ministry of
Commerce. Myanmar exported about 1.7 million tons of rice in FY 2014-15, about
1.2 million tons of rice in FY 2013-14 and about 1.4 million tons of rice in FY
2012-13.As Myanmar is trying to ramp up its rice exports, the domestic rice
prices are said to be increasing considerably. The General Secretary of the
Myanmar Rice Federation (MRF) says a balance should be struck between exports
and domestic consumption.An official with the Myanmar Rice Industry Association
(MRIA) noted that when domestic prices increase, farmers would benefit as paddy
prices also tend to increase. But imposing price controls would deter benefits
to farmers. He noted that instead of imposing price controls, other means of
adjusting local rice prices should be sought.
He says the government could
consider importing cheap rice from Thailand or any other country for domestic
consumption. This would separate exports and domestic consumption and local
prices would be relatively unaffected by increasing exports. He reminds that
currently, Thailand is attempting to sell off its buffer rice stocks
accumulated from the rice pledging scheme introduced by the previous
government.USDA estimates Myanmar to produce 20 million tons of paddy rice
(around 12.8 million tons, milled basis) and export around 2 million tons of
rice in MY 2015-16 (January - December 2015).
Oryza Overnight Recap – Chicago
Rough Rice Futures Little Changed as Market Lacks Direction
Jun
12, 2015
Chicago rough rice futures for Jul
delivery are currently seen trading 1 cent per cwt (about $0.22 per ton) lower
at $9.785 per cwt (about $216 per ton) during early floor trading in
Chicago. The other grains are seen trading mixed this morning; soybeans
are currently seen trading slightly lower, wheat is listed about 0.5% higher
and corn is currently noted about 0.6% lower.U.S. stocks opened lower on Friday as negative news
out of Greece weighed on sentiment and investors kept an eye on bond yields.
The Dow Jones industrial average quickly lost 100 points in the open.
The standoff between Greece and its creditors
worsened on Thursday after
the International Monetary Fund walked out on talks with Athens, citing
"major differences" over how to save the country from bankruptcy. The
news pressured stocks, with European and U.S. equities closing with mild gains.
European stocks traded lower on
Friday, with the German DAX off 1%. The ATHEX Composite traded about 5%
lower. Senior European Union officials have formally discussed for the first
time a possible Greek debt default as negotiations between Athens and its
creditors have stalled ahead of an end-month repayment deadline, several
officials told Reuters.
The Producer Price Index increased
0.5% for May, topping expectations for 0.4%. The gain was the largest since May
2012. The ex-food and energy read was 0.1%. Later in the morning the Michigan
consumer sentiment figure for this month is due. The Dow Jones Industrial
Average opened down 77 points, or 0.43%, at 17,963. The S&P 500 traded down
9 points, or 0.41%, at 2,100. The Nasdaq opened down 24 points, or 0.48%, at
5,058. Gold is currently trading about 0.1% lower, crude oil is seen trading
about 0.9% lower, and the U.S. dollar is currently trading about 0.3%
higher at 9:00am Chicago
time.
Oryza Afternoon Recap - Chicago
Rough Rice Futures Tumble in Afternoon Trading, Add to Losses for the Week
Jun
12, 2015
Chicago rough rice futures for Jul
delivery settled 11.5 cents per cwt (about $3 per ton) lower at $9.680 per cwt
(about $213 per ton). The other grains continued with mixed results; Soybeans
closed unchanged at $9.4000 per bushel; wheat finished about 0.1% lower at
$5.0375 per bushel, and corn finished the day about 1% lower at $3.5300 per
bushel.U.S. stocks traded lower on Friday as uncertainty over Greece weighed on
sentiment and investors kept an eye on bond yields ahead of next week's Federal
Reserve meeting. Stocks trimmed losses amid a Reuters report that the Greek
government is ready to submit counter-proposals and that Athens and its
creditors are closer than ever to a deal, a Greek official said.
Prime Minister Alexis Tsipras also
spoke on the telephone with European Commission President Jean-Claude Juncker
about the next steps in negotiations. The official added Greece expects a deal
by June 18 when the euro group of regional finance ministers meets, Reuters
said. The standoff between Greece and its creditors worsened on Thursday after
the International Monetary Fund walked out on talks with Athens, citing
"major differences" over how to save the country from bankruptcy. The
news pressured stocks, with European and U.S. equities closing with mild gains.
Senior European Union officials have formally discussed for the first time a
possible Greek debt default as negotiations between Athens and its creditors
have stalled ahead of an end-month repayment deadline, several officials told
Reuters.
The Dow Jones Industrial Average traded
down 143 points, or 0.80%, at 17,895. The S&P 500 traded down 14 points, or
0.66%, at 2,095, with energy leading all 10 sectors lower. The Nasdaq traded
down 29 points, or 0.56%, at 5,054. Gold is trading about 0.1% lower, crude oil
is seen trading about 1.3% lower, and the U.S. dollar is seen trading nearly
even at about 2:00pm Chicago time.Thursday, there were 964 contracts
traded, down from 1,048 contracts traded on Wednesday. Open interest – the
number of contracts outstanding – on Thursday decreased by 134 contracts to
11,898
Oryza Weekly Recap: Philippines
Planning for More Imports This Month
Jun
12, 2015
The Oryza White Rice Index (WRI), a weighted average of global white rice
export quotes, ended the week at about $403 per ton, down about $2 per ton from
a week ago, down about $4 per ton from a month ago and down about $60 per ton
from a year ago.
In its June World Agricultural Supply and Demand Estimates reports, the
USDA forecasts the U.S. MY 2015-16 all rice beginning stocks to increase to around 2.06
million tons, up about 43% from last year and up about 6% from last month’s
forecasts. It forecasts the U.S. 2015-16 all rice exports to increase to around 4.99 million
tons, up about 5% from last year's 4.76 million tons and up about 1.8% from
last month's forecast of around 4.9 million tons. The USDA forecasts the U.S.
MY 2015-16 all rice
imports to increase to around 1.13 million tons, up about 4% from around 1.09
million tons last year and up about 1.18% from its last month's forecasts of
1.11 million tons. However, the USDA has kept its forecasts for U.S. all rice production unchanged from last month.
Thailand
Thailand 5% broken rice is today shown at about $360 per ton, down about $5
per ton from a week ago, down about $15 per ton from a month ago and down about
$25 per ton from a year ago.
Thailand’s rice exports declined sharply in April after increasing
continuously for three months. Thailand has exported about 700,011 tons
of rice in April, down about 11% from March and down about 5% from April 2014.
Thailand’s Ministry of Commerce will allow potential bidders to inspect the
quality of the stockpiled rice before the third auction scheduled for June 16.
In efforts to reduce rice stocks in the country as quickly as possible, the
government is considering selling stockpiled rice directly to consumers.
The USDA Post forecasts Thailand to export about 11 million tons of rice in
2015, with exports accelerating in the second half of the year due to an
increase in the sales of G2G contracts.
Thailand’s National Council for Peace and Order has decided to sell
stockpiled rice at affordable prices to low-income earners in efforts to clear
the deteriorating government rice stocks as soon as possible.
Thailand’s Royal Irrigation Department has advised farmers to delay
in-season/main season (April-January) rice planting due to persisting drought
conditions and depleted water reserves.
India
India 5% broken rice is today shown at about $380 per ton, Unchanged from a
week ago, up about $5 per ton from month ago, and down about $60 per ton from a
year ago.
Rice stocks in India’s central pool as of June 1 were around 22.485 million
tons, down about 20% from the same period last year. Month-over-month,
rice stocks are slightly up.
Vietnam
Vietnam 5% broken rice is today shown at about $355 per ton, unchanged from
a week and a month ago and down about $55 per ton from a year ago.
Vietnam exported about 2.081 million tons of rice in the first five months
of calendar year 2015, a decrease of about 11% from the same time last
year. Average rice export price so far this year is about $420 per ton
(FOB), down about 3% per ton from the same time last year.
Vietnam exported about 71,993 tons of rice to Africa in April, over two
times more than the amount exported in March but down about 29% from April
2014. The increase is attributed to export promotion strategies implemented
by the Ministry of Industry and Trade.
Pakistan
Pakistan 5% broken rice is today shown at about $385 per ton, down about
$15 per ton from a week ago, down about $10 per ton from a month ago and down
about $65 per ton from a year ago.
Pakistan basmati rice prices have declined for the third consecutive month
in May 2015 after increasing continuously for two months, according to the UN’s
FAO.
A former Provincial Minister who is now the President of the Pakistan
Businessmen and Intellectuals Forum has urged the Pakistan government to bail
out the sinking rice sector, which is facing losses due to higher production
costs and reduced export demand.
Pakistan is targeting to produce 6.9 million tons of milled rice in
2015-16, according to a SUPARCO-FAO report.
Pakistan rice exporters plan to increase rice exports to Iran in efforts to
meet the export target of 3.5 million tons this year.
Central & South America
Brazil 5% broken rice is today shown at about $550 per ton, unchanged from a week
and a month ago and down about $115 per ton from a year ago.
Rice stocks in Brazil stood at around 128,119 tons in May, down about 4%
from April and down about 77% from May 2014, according to Conab.
In the first five months of 2015, Brazil has exported about 482,926 tons of
rice, according to the Rice Institute of Rio Grande do Sul. In May,
Brazil exported about 171,567 tons of rice, about 3.5 times more than in April
2015.
The Brazilian paddy rice index maintained by CEPEA reached around 33.18
real per 50 kilograms as of June 8, 2015, down about 3% from around 34.25 real
per 50 kilograms recorded on June 1, 2015.
In terms of USD per ton, the index reached around $213 per ton on June 8,
2015, down about 1.3% from around $215.5 per ton recorded on June 1, 2015.
In the first three months of 2015, Argentina exported around 92,512 tons, down
about 25% from the same period in 2014.
Five percent broken rice from Uruguay and Argentina is today shown at
about $565 per ton, unchanged from a week and a month ago, and down about $60 per
ton from a year ago.
U.S.
U.S. 4% broken rice is today shown at about $470 per ton, unchanged from a
week ago, down about $15 per ton from a month ago and down about $110 per
ton from a year ago.
Other Markets
In the beginning of this week, the Philippines reportedly was considering private
rice imports this month under the WTO minimum access volume rule after failing
to secure government-to-government contracts for the requisite 250,000 tons
last week. Rice imports under the MAV quota aren’t typically considered
until the third quarter.
In May, rice stocks in the Philippines increased for the second consecutive
month after declining for three consecutive months.
The Philippines Statistics Authority forecasts the Philippines 2015 second
quarter (April-June) production to decline by about 4.3% to around 3.898
million tons from last year’s 4.073 million tons, due to a decline in harvest
area prompted by a dry spell and insufficient water supply as well as incidence
of pests and diseases in some growing areas.
Following this report, the National Food Authority (NFA) of the Philippines
is planning to purchase the additional 250,000 tons of rice, it is still
authorized to import this year in case of production uncertainties due to
drought-inducing El Nino weather pattern, in government-to-government (G2G)
deals. Meanwhile, the NFA is also reportedly considering conducting G2G
rebidding for the remaining 100,000 tons from the June 5 tender on June
16.
In the first five months of 2015 Cambodia’s rice exports increased about 64%
from the same period last year, with the country exporting about 243,025 tons
of rice.
The government of Indonesia has replaced the state logistics agency Chief with the former Bank Rakyat
Indonesia Director for not being able to meet the government rice procurement
target of about 3.2 million tons.
Italian paddy quotes showed diverse trends as on June 9, 2015, with prices of
Japonica varieties increasing and Indica prices declining or remaining stable
compared to quotations on May 26, 2015. Since June 2 was a public holiday, no
quotations were available as on that date. Italy's paddy market is still buying
Japonica varieties from the 2014 crop (September - August). Nearly 90% of the
2014 crop has been sold out and about 141,970 tons of the last year's crop are
still available.
Paddy rice production in Australia in MY 2014-15 (April-March) is estimated to decline to around 720,000
tons, down about 11% from MY 2013-14.
In Bangladesh, a new high-yielding and
early maturity rice variety known as 'Soru balam' or BRRI-dhan 63 introduced by
the Bangladesh Rice Research Institute (BRRI) is understood to gain popularity
among Boro rice farmers.
Myanmar is seriously planning to ramp up its rice exports but increased exports are
leading to high domestic prices. Therefore the government is seeking means to
balance the export and price scenario.
South Korea and the UN's Food and Agricultural Organization (FAO) will
jointly work towards developing the rice value chain in the West African countries as part of efforts to help
them increase their national rice production. Both South Korea and the FAO have
agreed to implement a project called “Capacity Development and Experience
Sharing for Sustainable Value Chain Development in Africa through South-South
Cooperation” in West African countries.
Researchers from the Chinese Academy of Sciences' Institute of Genetics and Developmental Biology in
Beijing have developed a new rice strain by cloning a gene called NRT1
(nitrogen booster gene) from indica rice into the japonica's gene structure,
according to South China Morning Post.
Pakistan Rice Sellers Increase
Some of Their Quotes Today; Other Asia Rice Quotes Unchanged
Jun
12, 2015
sellers increased their quotes for 25% broken rice by about $10 per ton to
around $345-$355 per ton today. Other Asia rice sellers kept their quotes
mostly unchanged.
5% Broken Rice
Thailand 5% rice is indicated at around $355 - $365 per ton, about a $5 per
ton premium on Vietnam 5% rice shown at around $350 - $360 per ton. India 5%
rice is indicated at around $375 - $385 per ton, about a $5 per ton discount to
Pakistan 5% rice shown at around $380 - $390 per ton.
25% Broken Rice
Thailand 25% rice is shown at around $340 - $350 per ton, about a $10 per
ton premium on Vietnam 25% rice shown at around $330- $340 per ton. India 25%
rice is indicated at around $360 - $370, about $15 per ton premium on Pakistan
25% rice shown at around $345 - $355 per ton, up about a $10 per ton from
yesterday.
Parboiled Rice
Thailand parboiled rice is indicated at around $360 - $370 per ton. India
parboiled rice is indicated at around $355 - $365 per ton, about a $55 per ton
discount to Pakistan parboiled rice shown at around $410 - $420 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $315 - $325 per ton,
on par with Vietnam 100% broken rice shown at around $315 - $325 per ton.
India's 100% broken rice is shown at around $280 - $290 per ton, about a $15
per ton discount to Pakistan broken sortexed rice shown at around $295 -
$305 per ton.
New High-Yielding, Early Maturity
Rice Variety Gains Popularity in Bangladesh
Jun
12, 2015
The Bangladesh Rice Research
Institute (BRRI) has developed a new high-yielding and early maturity rice
variety known as 'Soru balam' or BRRI-dhan 63, according to local sources.The
new rice variety, which is a hybrid between the BRRI dhan-28 and Iranian rice
Amul-23, yields about 7 to 7.5 tons per hectare and can be harvested within
145-148 days, seven days earlier than compared to other hybrid varieties such
as BRRI dhan-28 and BRRI dhan-29 varieties.Some farmers who used this variety
in the 2015 Boro season have told local sources that they achieved an yield of
8 tons per hectare in 148 days. They also noted that the grain in fine, tall
and non-aromatic and can be exported as well as sold at a higher price in the
market.BRRI dhan-63 was originally introduced in 2013 and has been tried in the
2014 and 2015 Boro seasons. Officials expressed hope that more number of
farmers may adopt the new variety in the next Boro season given its success
rate. The Chief Agronomist of BRRI's breeding department noted that the new
variety is expected to replace BRRI dhan-26, BRRI dhan-28 and BRRI dhan-29 in
next Boro season.
Bangladesh produced around 34.449
million tons of rice, basis milled, in FY 2013-14 (July - June), up about 2.7%
from around 33.833 million tons produced in FY 2012-13, according to DAE data.USDA
estimates Bangladesh’s MY 2015-16 (July 2014 – June 2015) milled rice
production to slightly increase to about 35 million tons from an estimated 34.5
million tons in MY 2014-15. It estimates Bangladesh to import 1.1 million tons
of rice in 2015.
South Korea and FAO to Develop
Rice Value Chain in West Africa
Jun
12, 2015
South Korea and the UN's Food and Agricultural
Organization (FAO) will jointly work towards developing the rice value chain in
the West African countries as part of efforts to help them increase their
national rice production, according to local sources.Both South Korea and the
FAO have agreed to implement a project called “Capacity Development and
Experience Sharing for Sustainable Value Chain Development in Africa through
South-South Cooperation” in West African countries.South-South Cooperation
(SSC) is a cost-effective means of sharing knowledge and resources among
various entities. Asian countries, which have developed a reasonably good level
of rice production systems can share their experiences with the African nations
and help them develop their rice production systems as well.South Korea has
agreed to provide about 42 million to support the project in three countries in
West Africa and the FAO will facilitate the implementation of the project
through its Regional Office in Africa. The project will focus on
developing the rice value chain by increasing production and productivity,
adding value, enhancing quality and improving market access. It aims to create
more modern and profitable agricultural sector through the design and
implementation of evidence-based agriculture and rural development approaches,
policies and programs for rice in these countries, according to the Director of
South-South Cooperation and Resource Mobilization Division of the FAO.
Philippines Plans to Import
Additional 250,000 Tons of Rice Through G2G Negotiations
Jun
12, 2015
The National Food Authority (NFA) of
the Philippines is planning to purchase the additional 250,000 tons of rice, it
is still authorized to import this year in case of production uncertainties due
to drought-inducing El Nino weather pattern, in government-to-government (G2G)
deals, according to BusinessworldOnline.The NFA Public Affairs Director told
reporters that the agency is planning to import the remaining volume of rice in
G2G deals through negotiated procurement.
He noted that Thailand, Vietnam and
Cambodia, which hold bilateral agreements with the Philippines, have been
invited for G2G negotiations next week.The official also noted that the NFA is
also reportedly considering to conduct G2G rebidding for the remaining
100,000 tons from the June 5 tender on June 16. Though the NFA invited tenders
from Vietnam, Thailand and Cambodia for 250,000 tons, it imported only 150,000
tons from Vietnam. Thailand backed out from the tender as the price offered by
the NFA was deemed to be too low. Cambodia did not participate in the bid. He
added that Vietnam is required to ship about 60% of the 150,000 tons before
July 15 and the remaining before August 15.
The decision reportedly follows the
Philippine Statistics Authority's (PSA) forecasts that the Philippines's 2015
second quarter (April - June) production to decline by about 4.3% to around
3.898 million tons from last year's 4.073 million tons and about 0.1% from its
April forecast of around 3.902 million tons due to a decline in harvest area
prompted by dry spell and insufficient water supply as well as incidence of
pests and diseases in some rice growing areas.Last month, the PSA forecasted
paddy production in the first half of 2015 (January - June) at around 8.27
million tons, down about 1.32% from around 8.38 million tons last year.Last
week, the NFA told that it is planning to import 805,200 tons of rice through
private importers under the WTO minimum access volume (MAV) rule at 35% duty.
Imports over and above the MAV quota attract a 50% duty.
The NFA is likely to open the
applications for MAV any time this month and traders are expected to deliver
rice between September and October. Earlier this year, the Philippines
imported 500,000 tons of rice from Vietnam and Thailand this year to curb price
increases and boost buffer stocks during the lean season (July - September).
Last year, the NFA imported more than 1.8 million tons of rice (including 1.5 million
tons of 2014 imports and 300,000 tons of 2013 residual imports) in 2014 to
replenish rice stocks and control price hikes.USDA estimates Philippines MY
2015-16 (July - June) paddy rice production at around 19.683 million tons
(around 12.4 million tons, basis milled), slightly up from around 19.365
million tons (around 12.2 million tons, basis milled) produced in the previous
year. It estimates the Philippines to import 1.7 million tons of rice in 2015.
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