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Philippins Approves 805,200 T Rice Imports Under Quota Scheme

The Philippines’ state grains procurement agency on Tuesday gave the go-ahead for local traders to import up to 805,200 tonnes of rice under an annual quota scheme, which should boost domestic supply and keep rising prices in check. The imports, which should be shipped in starting July, wouldbring total rice purchases approved this year to 1.3 million tonnes, including half-a-million tonnes that the National Food Authority (NFA) has bought to replenish its depleted buffer stock. The Southeast Asian country, a frequent rice buyer, is seeking to stabilise retail prices of […]

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