Adequate Rice Buffer Stock in Negros Oriental Amid Import Ban

The Negros Oriental Chamber of Commerce and Industry (NOCCI) president Edward Du expressed confidence in the adequate rice buffer stock in the province, despite the President's 60-day ban on rice importation. Du attributed this assurance to the local rice traders' usual surplus supply, which can last beyond the 60-day period. He also stated that the ban would allow farmers to sell their produce during the harvest season, benefiting both farmers and traders. However, Du expressed concern over the closure of rice mills in the province due to high overhead costs, which may impact local farmers.

Key Takeaways:

• NOCCI president Edward Du is confident in the adequate rice buffer stock in Negros Oriental despite the 60-day import ban, attributing it to the local rice traders' usual surplus supply.
• The surplus supply can last beyond the 60-day period, according to Du.
• The import ban would allow farmers to sell their produce during the harvest season, benefiting both farmers and traders.
• The ban would prevent hoarding of premium quality rice, as prices have dropped in recent months.
• A 50-kg. sack of imported premium rice that cost PHP2,500 several months ago is now sold at PHP2,000.
• NOCCI has received reports that only a few rice mills are operational in the province, which could be a concern for local farmers.
• The National Food Authority (NFA) buys palay, but many farmers opt not to sell it due to personal consumption or direct sales to the market.
• The President's order is for a 60-day ban on rice importation starting September 1, which may impact local businesses.

Statistics:

• 60-day import ban on rice ordered by President Ferdinand R. Marcos Jr.
• PHP2,500: the previous price of a 50-kg. sack of imported premium rice.
• PHP2,000: the current price of a 50-kg. sack of imported premium rice.
• A few rice mills are operational in the province, according to NOCCI reports.

Sources:

• Philippine News Agency