Rice imports drop 18%

The Philippines Statistics Authority recently published highlights from the Philippine Export and Import Statistics Report for October 2019, which saw exports grow by 0.1 percent, a considerable drop from last October’s 6.7 percent.
Contributing the most to the import figures were travel goods and handbags, which saw a 155.9 percent rise; however, machinery and transport equipment suffered a 42.7 percent decline.
In addition, electronic products were found to be the country’s top commodity group in terms of revenue but total growth for the month figured at seven percent.
Meanwhile, with regard to imports, the country saw a 10.8 percent drop with telecommunication equipment and electrical machinery the only commodity group to show any gains.
Notably, cereals and cereal preparations, which, according to the Food and Agriculture Organization, includes rice, wheat, and other similar grains, saw an 18.1 percent decline.
The report also found the United States remains the Philippines’ top trade partner, followed by Japan, Hong Kong, and China.
Last month, Senator Cynthia Villar expressed her support for President Rodrigo Duterte’s order to suspend the importation of rice by calling it “good for the local farmers.”
She affirmed, the national government will delay importation until the end of the harvest season in order for domestic products to be sold./WDJ