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Philippines makes biggest ever rice tender
Manila (AFP) Nov 10, 2009 The Philippines will tender for a record 600,000 tonnes of rice to guard against potential supply shortfalls from crop damage caused by recent storms, officials said Tuesday. The December 1 tender, the country's biggest ever, would likewise be a "forward-buying" operation in anticipation that prices may jump next year, a senior agricultural official told AFP. The official conceded that such a huge order would likely push up international rice prices but said this could not be avoided. "There are rumours that India might be calling for a tender for a huge amount," said the official, who asked not to be named. However, International Rice Research Institute economist Samarendu Mohanty said he did not expect to a spike. "The Philippine tender was expected so I don't expect the market to react," he told AFP. "The Indian drought situation could mean a significant loss in production this year (but) they have lots of stocks so they should be able to handle it in the short term." Tropical storms Ketsana and Parma caused the worst flooding in four decades on the main Philippine island of Luzon and left many of the country's prime rice lands inundated shortly before the start of the harvest season. While the full extent of the damage to ricelands has not yet been assessed, the agriculture department is confident it has enough rice stocks for this year. The country with the winning bid likely will ship the rice between February and May next year, the official said. The Philippines relies heavily on imports to feed its rapidly growing population of 92 million. In 2008, the country bought some 2.3 million tonnes of rice despite record world prices, causing political problems for President Gloria Arroyo. Agriculture Secretary Arturo Yap has said imports this year will likely reach about two million tonnes. Share This Article With Planet Earth
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Cereal production to fall in Sahel: regional committeeDakar (AFP) Nov 10, 2009 The cereal crop will decline sharply in Chad, Niger and Mauritania in 2009-2010 because of drought, the permanent Inter-state Committee to Fight Drought in the Sahel (CILSS) announced Tuesday. "Compared with last year, drops in cereal production are expected in Chad (34 percent), Niger (36 percent), Mauritania (24 percent), Burkina Faso (10 percent) and Cape Verde (eight percent)," the ... read more |
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