Philippines May Import Rice in Early 2011

The Philippines, the world’s biggest rice importer, may hold tenders for the grain in the first quarter of 2011, Agriculture Secretary Proceso Alcala said in a press briefing today. The Southeast Asian nation, which imported a record 2.47 million metric tons for this year, cut its rice production forecast this year to 16.02 million tons from 16.24 million tons due to storms that damaged crops. It’s still reviewing the volume, mechanics and timing of rice imports, Alcala said.