THE Philippines issued over 2,000 sanitary and phytosanitary import clearances for the importation of close to 2 million metric tons of rice in the past two months to plug the shortfall in its local supply.
The BPI issued 1,319 SPSICs with an import volume of 1.273 MMT in July and at least 763 SPSICs last month with a volume of 696,163.75 MT, according to the agency’s data report as of August 24. Rice imports with approved SPSICs can enter the country within 60 days from issuance if they are sourced from Asean countries or within 90 days if from Myanmar and outside the Asean region.
From January to August 24, the country has already imported about 2.203 MMT of rice, with Vietnam accounting for nearly 90 percent of the total volume.International rice market watchers have reported that the price of the grain in the global market, from Vietnam and Thailand, has risen in recent months due to India’s export ban on non-basmati white rice and broken rice.
The reference price for 5-percent broken rice from Vietnam, as of August 27, stood at $0.623 per kilogram, 23.61 percent higher than the $0.504 reference price recorded in end-July, according to BOC documents.
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