The Philippines raised on Saturday its 2005 rice import requirement to 1.8 million tonnes from an earlier projection of 1.6 million as a rain shortfall in the first half led farmers to delay planting. The rice shortfall was also due to damage from four storms in November and December. It is the highest shortfall since 1998 when the country imported 2.1 million tonnes after the harvest suffered from severe weather. The country imported 985,000 tonnes in 2004.
Gregorio Tan, administrator of state-trading firm National Food Authority, said the government will hold a tender on July 20 to buy 185,000 tonnes of either 15-percent or 25-percent broken rice for August/September delivery for buffer stocks.
The rice should be sourced either from Australia, China, Pakistan, Thailand, Vietnam or the United States, he said. The Philippines set a budget of 3.32 billion pesos ($59.6 million) for the importation, Tan said.