Financial Times FT.com

Rice price fears drive Philippine buying

MANILA, Nov 23 – The Philippines could import as much as 3m tonnes of rice next year as the world’s largest buyer of the grain, worried about the potential for higher prices, moves quickly to secure supplies.

Manila’s call for a fourth import tender would bring in a total 2.05m tonnes of milled rice until May, already above the 1.8m tonnes for the whole of this year and near the record 2.3m tonnes bought in 2008, with three tenders scheduled for next month happening a week apart.

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