NFA to allow private sector to import riceBy EIREENE JAIREE GOMEZhome/Business/Top Business/NFA to allow private sector to import riceThe National Food Authority (NFA) has approved a measure allowing the private sector to import rice to help boost the country’s reserves and ease overall inflation, a Cabinet official said. According to Agriculture Secretary Emmanuel Piñol, the NFA Council recently approved the “out quota allocation,” which will give the private sector the opportunity to import rice if it complies requirements set by the NFA. Piñol, who chairs the NFA Council, said the importation permits would be given by the NFA to compliant private firms. “Under the new guidelines, we will need to check their total net income amounting to 10 percent of the value of what they will import,” Piñol said. While the Philippines is taking steps to liberalize rice importation, Piñol reiterated the country has “enough rice stocks” until the end of the year.

Source: Manila Times November 15, 2018 16:38 UTC