The Philippines’ National Food Authority (NFA) is set to import 100,000
tonnes of rice from either Vietnam or Thailand in the coming months to
stop the manipulation in the domestic rice market, according to The
Daily Tribune on September 30.
The rice import is
aimed at further bolstering the buffer stock and defeating efforts of a
rice cartel, which is believed behind in the market manipulation of the
product, bringing down the prices of the cereal, The Daily Tribune
quoted an industry source, who requested anonymity, as saying.
Earlier this year, Vietnam won a bid to provide 187,000 tonnes of rice for the Philippines in 2013.-VNA