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DESPITE worries about the reduced rice tariff collections for the year, the Bureau of Customs (BOC) remains optimistic about hitting its revenue targets through proper assessment of duties and taxes, according to its top official.

Currently, we have a situation where paddy/rice inflation is largely a problem of distortions in the market introduced by governments, both centre and some states 

Vietnam’s rice export is projected to surpass US$5 billion this year, fueled by robust global demand and stable prices, according to experts.

The Philippines is expected to slow down its importation of rice this year even if the government has reduced tariff rates on this staple food.

Rice exporters warned that local rice varieties are at risk of extinction as farmers flock to plant a Vietnamese rice variety known for its soft texture.

Shipments in the period exceed total exports in 2023-24, consignment prices lower since September

Rice exporters face the likelihood of losses this year as input costs rise and export prices fall.

Rice was the Vietnamese product with the highest export value to Philippines in the first six months of 2024, with a turnover of $1.2 billion, up 41% over the same period last year.

In the last 10 years, rice stocks were never as high but inflation is in double digits possibly because high procurement is squeezing supply in private market. Lifting export restrictions can ease pressure to procure and thereby restore balance 

BEIJING (Reuters) -Extreme heat baked megacities on the eastern Chinese seaboard and sharply pushed up demand for power to cool homes and offices, while scorching temperatures in China's interior stoked fears of damage to rice crops.

MANILA, Philippines — Rice inflation has slowed but it remains to be the number one contributor to overall food inflation at 20%, according to data from the Philippine Statistics Authority (PSA) on Tuesday. 

The guidelines for the suspension of customs duty and taxes on imported food items are to commence next week, the Federal Government announced on Tuesday. In July the Federal Government approved a 150-day duty-free window to allow the importation of maize, husked brown rice, and wheat as part of measures to combat rising food inflation

The Ministry of Agriculture and Rural Development (MARD) and the Ministry of Industry and Trade (MoIT) proposed establishing the National Rice Council to address rice-related issues at a working session in Hanoi on August 6, according to VOV News.

The year-old ban on exporting non-basmati white rice may be lifted in view of this year's bountiful rains and better paddy cultivation, a top policymaker said.

MANILA, Philippines — The Department of Finance (DOF) expects to generate P8.1 billion in rice tariff collections in the second semester, less than half of the projected revenues following the tariff cut on the commodity.

Thailand expected to export 8.2 million tonnes of rice in 2024, valued at 191 billion baht

Thailand is stepping up efforts to increase its rice exports to the Philippines as the Southeast Asian nation emerges as a major importer of the staple grain.