Philippines Imports To Touch All Time High

According to a recent report released by the United States Department of Agriculture, USDA, the volume of rice that the Philippines imports this year may reach an all-time high owing to the multibillion worth of damages caused by recent typhoons.

Based on its latest report on global rice market and trade posted at its website , the "Philippines' imports are boosted 200,000 tons to a record 2.6 million for 2010 on typhoon-related damages to the rice crop."

However, the Philippine Department of Agriculture refused to confirm the data.

So far, the Philippines' paddy rice production from January to September stands at 10.819 MMT. Unmilled rice production for October to December, however, will be lower by 12 % due to the damages caused by the typhoons. The Department projected paddy rice production for the fourth quarter at 6.48 MMT.