The Philippines, the world’s biggest buyer of rice this year after contracting 2.3 million tonnes of the grain from overseas sources, will focus on local purchases for now to ensure a stockpile worth 25 to 30 days of rice consumption by the end of December, said Ludovico Jarina, deputy administrator at the state grain agency National Food Authority (NFA).
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RICE production in the Philippines, the world’s biggest importer of the grain, likely exceeded a government target by 200,000 metric tons after the state boosted spending on agriculture.