MANILA, Philippines — Rice prices are expected to decline in two to four weeks as the National Food Authority (NFA) floods the market with more supply. To further help stabilize prices and supply, the Philippines is set to import 750,000 MT of rice this year. Trade Undersecretary Ruth Castelo said there is enough rice supply in the market as discussed during the NPCC meeting. “It is way too much for us,” he said, stressing members have no use for the NFA license after the rice supply issue is addressed. What is important is to have visible, accessible and readily available NFA rice in the market,” Castelo said.

Source: Philippine Star September 28, 2018 15:56 UTC