* Govt rethinking plan to limit 2012 rice imports at 500,000 T
* Says country has enough corn supply despite crop damage
* Feed millers group says assessing need to import feed wheat, corn
MANILA, Philippines (UPDATE) - The Philippines may consider buying more than its targeted 500,000 tons of rice next year and weigh corn imports after typhoons damaged crops, but it is unlikely to purchase more rice for 2011, government and industry officials said on Thursday.
Proceso Alcala said strong double-digit growth in rice production for most of the January-to-September period should help ensure sufficient supply this year.
He said the country has enough corn supply to meet its needs, although a feed millers group said it was assessing the quality of corn harvests and the need to import both feed wheat and corn after last week's twin typhoons.
The government had also said before the typhoons hit it was unlikely to buy more than half a million tons of rice in 2012, as it looks to trim purchases from 860,000 tons this year and a record of 2.45 million tons in 2010, making it the world's biggest rice buyer.
"We will evaluate that plan," Alcala told Reuters when asked about the 2012 rice import forecast. "For sure, we will not buy more rice this year."
Rice production climbed 14.5% in the first half from a year ago, with annual output in the third quarter expected to grow 22%.
Higher-than-planned demand from the Philippines next year could add to the upward pressure on rice export prices in Asia. Top exporter Thailand's benchmark rice export price could go far higher as a result of the government's rice price-guarantee scheme.
Prices in Thailand and Vietnam were higher this week, with Thai rice back around a three-year high amid speculation ahead of the scheme that will offer farmers sharply higher prices, thus keeping more supplies at home.
Rice from Vietnam, the Philippines' main supplier, rose largely due to loading demand and limited supply caused by flooding.
Rice is estimated to have a 9% share in the Philippines' Consumer Price Index, and imports of the national staple account for 17% of annual rice consumption in a country of more than 95 million people.
Ample rice and corn supply this year has helped moderate food inflation, with the annual rate edging down to 5% in September from 5.1% in August and the peak this year of 6.2% in May.
Before two strong typhoons that hit northern Philippines last week, the country forecast 2011 rice output to hit a record of 17.3 million tons on improved irrigation systems and good rainfall through the year that allowed farmers to plant on non-irrigated areas.
Rice buys
Vietnam, the world's second-largest exporter after Thailand, could have 7.2 million tons of rice available for export next year after deducting domestic consumption, up from 7 million in 2011, a state-run newspaper said on Thursday.
Agriculture Undersecretary Antonio Fleta said on Wednesday 760,000 tons of paddy rice, equal to two weeks worth of national demand, were damaged by the typhoons, but Alcala said he has ordered a review of the data, as a portion of that volume may still be saved.
Rice buffer stocks stood at two months' worth of demand as of early October, Fleta said.
Alcala told a business conference the country has enough corn supply despite damages from the typhoons, with at least 90% of the standing corn crop harvested before the typhoons caused massive flooding in rice-growing areas.
Corn supply
In a crop damage report released on Monday, the Agriculture department said corn losses hit 34,839 tons, or 2.25% of the target output of 1.55 million tons in the December quarter.
Despite Manila's assurance of ample corn supply, the Philippine Association of Feed Millers Inc (PAFMI) said it was assessing the quality of corn harvests and the need to import both feed wheat and corn.
The Southeast Asian country did not import corn this year but bought around 1 million tons of feed wheat mainly from Australia.
"The industry wants to know the quality of corn harvested in the Philippines. If the quality is questionable, we're open to importing both feed wheat and corn," Norman Ramos, PAFMI president told reporters on the sidelines of the conference.
* Says country has enough corn supply despite crop damage
* Feed millers group says assessing need to import feed wheat, corn
MANILA, Philippines (UPDATE) - The Philippines may consider buying more than its targeted 500,000 tons of rice next year and weigh corn imports after typhoons damaged crops, but it is unlikely to purchase more rice for 2011, government and industry officials said on Thursday.
Proceso Alcala said strong double-digit growth in rice production for most of the January-to-September period should help ensure sufficient supply this year.
He said the country has enough corn supply to meet its needs, although a feed millers group said it was assessing the quality of corn harvests and the need to import both feed wheat and corn after last week's twin typhoons.
The government had also said before the typhoons hit it was unlikely to buy more than half a million tons of rice in 2012, as it looks to trim purchases from 860,000 tons this year and a record of 2.45 million tons in 2010, making it the world's biggest rice buyer.
"We will evaluate that plan," Alcala told Reuters when asked about the 2012 rice import forecast. "For sure, we will not buy more rice this year."
Rice production climbed 14.5% in the first half from a year ago, with annual output in the third quarter expected to grow 22%.
Higher-than-planned demand from the Philippines next year could add to the upward pressure on rice export prices in Asia. Top exporter Thailand's benchmark rice export price could go far higher as a result of the government's rice price-guarantee scheme.
Prices in Thailand and Vietnam were higher this week, with Thai rice back around a three-year high amid speculation ahead of the scheme that will offer farmers sharply higher prices, thus keeping more supplies at home.
Rice from Vietnam, the Philippines' main supplier, rose largely due to loading demand and limited supply caused by flooding.
Rice is estimated to have a 9% share in the Philippines' Consumer Price Index, and imports of the national staple account for 17% of annual rice consumption in a country of more than 95 million people.
Ample rice and corn supply this year has helped moderate food inflation, with the annual rate edging down to 5% in September from 5.1% in August and the peak this year of 6.2% in May.
Before two strong typhoons that hit northern Philippines last week, the country forecast 2011 rice output to hit a record of 17.3 million tons on improved irrigation systems and good rainfall through the year that allowed farmers to plant on non-irrigated areas.
Rice buys
Vietnam, the world's second-largest exporter after Thailand, could have 7.2 million tons of rice available for export next year after deducting domestic consumption, up from 7 million in 2011, a state-run newspaper said on Thursday.
Agriculture Undersecretary Antonio Fleta said on Wednesday 760,000 tons of paddy rice, equal to two weeks worth of national demand, were damaged by the typhoons, but Alcala said he has ordered a review of the data, as a portion of that volume may still be saved.
Rice buffer stocks stood at two months' worth of demand as of early October, Fleta said.
Alcala told a business conference the country has enough corn supply despite damages from the typhoons, with at least 90% of the standing corn crop harvested before the typhoons caused massive flooding in rice-growing areas.
Corn supply
In a crop damage report released on Monday, the Agriculture department said corn losses hit 34,839 tons, or 2.25% of the target output of 1.55 million tons in the December quarter.
Despite Manila's assurance of ample corn supply, the Philippine Association of Feed Millers Inc (PAFMI) said it was assessing the quality of corn harvests and the need to import both feed wheat and corn.
The Southeast Asian country did not import corn this year but bought around 1 million tons of feed wheat mainly from Australia.
"The industry wants to know the quality of corn harvested in the Philippines. If the quality is questionable, we're open to importing both feed wheat and corn," Norman Ramos, PAFMI president told reporters on the sidelines of the conference.
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