Bloomberg News

Philippines to Buy Up to 400 Million Pesos of Storm-Damaged Rice

October 14, 2011

Oct. 14 (Bloomberg) -- The Philippine government will buy as much as 400 million pesos of rough rice damaged by recent storms to help farmers, Agriculture Secretary Proceso Alcala said in a phone interview today. The nation has “enough supply” of rice and won’t add to imports of the grain this year, he said. The government will decide on the 2012 overseas purchase plan by next month, Alcala said.

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