Thai prime minister promises rice stocks for RP (9:28 a.m.)
MANILA — The leader of the world’s largest rice exporter, Thailand, has promised to provide supplies to the Philippines as it struggles to plug a domestic shortfall in the staple grain, a Philippine official said.
President Gloria Macapagal Arroyo thanked Thai Prime Minister Samak Sundaravej during talks at the presidential palace on Thursday, the first day of the Thai leader’s two-day visit to the Philippines, Agriculture Secretary Arthur Yap said.
“The prime minister said he is extending the hand of friendship. Should the Philippines need rice, Thailand is willing to supply,” Yap told reporters.
Samak planned to hold separate talks Friday with officials from the International Rice Research Institute, which has been developing rice varieties to increase production and withstand drought or floods to help farmers across the world.
Rice prices in Asia have tripled this year, while U.S. rice futures have fallen by about 20 percent over the last month. Prices have been lifted by growing demand, rising fuel prices, cuts in agriculture funding, increasing use of food crops for biofuels, financial speculation and bad weather.
Sundaravej said Thailand would supply rice to the Philippines “in the spirit of ASEAN brotherhood.”
Thailand and the Philippines - the world’s top rice importer - are partners in ASEAN, or Association of Southeast Asian Nations, along with Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore and Vietnam.
The country has contracted for 1.7 million tons of rice to fill a 10 percent domestic production gap this year, and wants to buy an additional 675,000 tons as buffer stocks for the last quarter of the year.
The government has secured contracts with Vietnam for up to 1.5 million tons and Japan for 200,000 tons.
Yap said no specific volumes and amounts were discussed during Arroyo’s talks with Samak. (AP)
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