PH Additional Rice Imports to be “Much Lower” Than Estimated

Manila – The Philippines’ imports of additional volumes of rice in 2016 will be “much lower” than the initial estimate of 1.3 million tonnes due to better-than-expected domestic output, the country’s economic planning chief said on Thursday.

Lesser purchases by the Philippines, one of the world’s biggest rice buyers, could dent export prices in Vietnam and Thailand, the country’s main suppliers.

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Source: Manila Bulletin

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