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Tuesday, April 8, 2008

Business People - Import Rice Now!

Philippines lifts quotas on rice imports - AFP

The Philippines has temporarily lifted quotas on rice imports amid growing concerns about the price of the staple food, officials said Monday.

"Anybody can import rice, the quota is lifted but the tariff must be paid," said Presidential Management Staff director general Cerge Remonde.

"They can import as much as they want for as long they do not withhold (the supply) but channel it to the market," he said.

This means a previous quota limiting private imports of rice to 300,000 tonnes annually had been scrapped.

Agriculture Secretary Arthur Yap, in a statement, said the government is encouraging "importation of rice by all parties aside from NFA (the National Food Authority)."

Previously, the state-run NFA was in charge of almost all rice importation.

However, Yap stressed that "rice importation is not exclusive to NFA."

-- Source of the News

This is not an April fools joke! This is big business! Those who have connections in other countries, grab this cash cow now!