No rice crisis repeat -- Alcala
A SEVERE DROUGHT in the United States is unlikely to affect the
Philippines and could even open up export opportunities, a Cabinet
official claimed.
"We don't have a problem in our current supply of rice or corn,"
Agriculture Secretary Proceso J. Alcala said on Friday following renewed
fears of a global food crisis given a grains price surge.
The United Nations' Food and Agriculture Organization (FAO) earlier this
month warned of a repeat of the 2007-2008 global crisis, noting that the
US drought had pushed corn and soybean prices to record highs. The Group
of 20 leading economies last week said they were prepared to convene an
emergency meeting to address soaring prices, which are also being
pressured by poor Russian output.
Mr. Alcala, however, claimed that the Philippines, including Asia, was
better prepared this time than in 2008, when rising rice prices led to
long queues for state-subsidized supplies. The crisis led to the
Association of Southeast Asian Nations, which includes major importer
the Philippines and exporters Thailand and Vietnam, to bolster food
security.
"Asian countries have a large buffer stock of rice. The Philippines also
has enough rice in its current inventory," Mr. Alcala said.
The National Food Authority last week said that as of the first week of
August, the country's rice stock was enough to meet 76-78 days of demand.
Tightening corn supply in the international market, said Mr. Alcala,
could also present opportunities for the Philippines.
"The international market for corn will likely shoot up, which would be
good for our local farmers because this could mean we may be able to
export," he said.
"We hope this could also inspire them (farmers) to plant this coming
crop season so we can increase our stocks."
Higher global wheat prices, Mr. Alcala said, might also benefit Filipino
farmers by prompting millers to buy locally produced corn.
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