Lower milling rate to hike rice imports

The Philippines' rice import requirement may increase after the Philippine Statistics Authority (PSA) revised a key parameter used by the government in estimating the country's domestic production and supply of the staple.

- JASPER EMMANUEL ARCALAS

After three decades, the PSA revised downward its benchmark conversion ratio of palay to milled rice to reflect current industry realities and ensure more accurate policymaking in the rice sector.

The PSA board chaired by National Economic and Development Authority Secretary Arsenio Balisacan issued a resolution that formalized the adoption of a lower milling recovery rate (MRR) of palay at 63 percent.

Previously, the PSA used a palay MRR of 65.4 percent, which has been the established rate of the statistical agency since 1995.

The new MRR would impact how the PSA estimates the country's milled rice production, inventory and overall supply.