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AMIS Market Monitor

last release: June 2018

Policy Developments

  • In an effort to curb domestic prices, the Ministry of Trade in Indonesia authorized the State Logistics Agency (BULOG) to import 500 000 tonnes of rice in 2018 from several countries including Viet Nam, Thailand, Myanmar, Cambodia, India and Pakistan.
  • On 24 May, the National Food Authority Council in the Philippines issued guidelines (Resolution No. 884-2018-E) for the importation of a minimum access volume (MAV) of 805 200 tonnes of white rice for crop year 2017/18. Subject to a 35 percent tariff, the MAV is allocated to farm (20 percent) as well as non-farm (80 percent) organizations. Imports may be sourced from Thailand and Viet Nam (293 100 tonnes each); China, India and Pakistan (50 000 tonnes each); Australia (15 000 tonnes); and El Salvador (4 000 tonnes). In addition, a 50 000 tonnes allocation may be sourced from any country. 
  • On 1 May, Thailand approved a credit scheme worth THB 1.67 billion (USD 53 million) to encourage the building of barns to store rice during harvest and stabilise prices. Under the scheme, the government will subsidise interest rates of up to 3 percent per year for 5 years.
  • On 24 May, the US Food and Drug Administration notified the acceptance of Pro-vitamin A Bio-fortified Rice Event GR2E (Golden Rice) to the  International Rice Research Institute, following safety evaluations. This follows approval by Health Canada and Food Standards Australia-New Zealand (see Market Monitor No. 57 – April 2018).