Philippine farm minister expects a bumper rice harvest this planting season, potentially meaning there is no urgent need for the state grains buyer to import 250,000 tonnes of the staple food as planned. The National Food Authority has been looking to import 250,000 tonnes of rice, and wanted the cargo to arrive by end-April to boost thinning stocks ahead of the lean domestic harvest season beginning July.
Rice basmati edges up due to increase in demand.
Rice basmati prices firmed up at the wholesale grains market following pick-up in demand. Pick-up in demand from retailers against restricted supplies from producing regions, mainly led to the rise in rice basmati prices.