Philippines has bought enough rice for 2010

The Philippines has bought enough rice for 2010, Agriculture Secretary Arthur Yap said, implying the world's biggest rice buyer may be out of the market for now.

The state-run National Food Authority (NFA) contracted to import 1.82 million tonnes of milled rice in four tenders in the last months of 2009, the bulk from Vietnam.

Including re-orders from the tenders, total imports would top 2.2 million tonnes, near a record 2.3 million tonnes bought in 2008, which helped lift grain prices to record highs.

''That volume is already comfortable for the year,'' Yap told reporters.

''If there's a need to import more, (the allocation) will probably be given to the private sector,'' he said, adding the decision lies with the NFA.

The Philippines, which imports around 10 percent of its yearly rice needs, has allowed private firms to import rice since 2002 to curb smuggling.

Private importers brought in 200,000 tonnes of rice last year, and the government may give the same allocation this year, NFA director Romeo Jimenez said in November.

Jimenez said last week the agency has targeted to buy 584,000 tonnes of unmilled rice from local farmers this year, up 30 percent from 2009.