The Council of Agriculture (COA) officials in Taiwan have expressed confidence that rice prices are likely to be stable later this year due to more rice crops being cultivated and more imports from abroad.

Prices of different varieties of rice had increased by 5 % to 10 % in February compared to the same month last year, due to decreased supply caused by typhoons in the second half of last year.

COA has meanwhile released 38,000 MT of stored rice onto the market and encouraging more farmers to cultivate rice. In addition, Taiwan is likley to import 144,720 MT this year in accordance with World Trade Organization practices.