Rice imports to counter El Niño impact

Import-boosted rice stocks will be enough to counter the inflationary impact of an expected El Niño, a senior Bangko Sentral ng Pilipinas (BSP) official said.

The weather phenomenon, central bank Deputy Governor Diwa Guinigundo told reporters last last week, “is one important factor but remember that the National Food Authority (NFA) Council already approved out-quota importation.”