Chicken export banned

Updated 04 October 2012
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Chicken export banned

The Kingdom banned the export of chicken yesterday.
The move, aiming to ensure the meat’s sufficient supply to the local market and keep prices stabilized, was announced by Minister of Commerce and Industry Tawfiq Al-Rabiah.
“The price of chicken feed, which matters 70 percent in poultry farming, has increased at the rate of 30 to 40 percent recently causing the prices of domestic and imported chicken to rise,” the ministry said in a statement. It hoped that the prices would fall as the international prices of chicken feed components for the months of October and November have dropped.
The ministry also attributed the cause of the chicken price hike to factors such as losses to some farmers because of the high death rate of chicken, the SPA reported. The statement also said that chicken would be considered a major food item and governed by regulations of food supply.


Philippines set to import 1.2 million tons of rice as caps removed

Updated 1 min 32 sec ago
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Philippines set to import 1.2 million tons of rice as caps removed

  • President Rodrigo Duterte in October ordered the ‘unimpeded’ importation of rice after the country’s inflation shot u
  • Lawmakers have approved the bill removing the import cap on rice imports and replacing it with tariffs

MANILA: Rice traders in the Philippines are set to import about 1.2 million tons of the staple food, a state grains agency spokeswoman told Reuters on Tuesday, as the Southeast Asian country lifts a two-decade-old cap on purchases.
Bigger rice purchases by the Philippines, already one of the world’s top importers and consumers of the grain, could underpin export prices in Vietnam and Thailand, traditionally its key suppliers.
Prices in Vietnam fell last week ahead of the country’s largest harvest this month, while the Thai market is likely to see additional supply toward the end of January from the seasonal harvest.
President Rodrigo Duterte in October ordered the “unimpeded” importation of rice after the country’s inflation shot up to 6.7 percent in September and October, the highest in nearly a decade, partly due to food prices.
The National Food Authority (NFA) has approved initial applications from 180 rice traders for permits to import a total of 1.186 million tons of either 5-percent or 25-percent broken white, the NFA spokeswoman said.
“We have not set any deadline for accepting applications to import rice. There’s no more limit,” she said.
Importers are allowed to bring in rice from any country, but grains from Southeast Asian suppliers will be charged a tariff of 35 percent while those from elsewhere will face a 50-percent charge.
Lawmakers have approved the bill removing the import cap on rice imports and replacing it with tariffs. Duterte will “most likely” sign it into law “soon,” presidential spokesman Salvador Panelo said on Tuesday.
Philippine inflation eased in November and December, and the rice tariffication law could help curb it this year by as much as 0.7 percentage point, the central bank has said. Rice is the biggest food item in the country’s consumer price index.