Philippines to stop Rice purchase for 2009-2010

The government may have completed rice imports for 2010 and its next purchases would likely be for 2011’s needs, given healthy stockpiles and a relatively moderate impact of dry weather on crops, a government official said on Monday. Manila, the world’s biggest rice buyer, has ordered a record 2.45 million tons of rice imports for this year. Shipments of 2.25 million tons are due to be completed by June and the remainder would be brought in by private firms up to Sept. 15. "NFA has no more plans to import for 2010," Rex Estoperez, spokesman for state grain agency National Food Authority (NFA), told Reuters. "We might import but that would already be in preparation for 2011. NFA has enough stocks in its warehouses," he said. Estoperez could not say when Manila would resume imports. The country normally begins buying rice in the final quarter of a year to meet the next year’s requirements.