MANILA - Private traders are reducing rice imports due to soaring prices in the international market.

Orly Manuntag, a private importer, said that last month, his supplier from Vietnam raised their price by $100 per metric ton.

"Ngayon nagla-lie low kami, halos nasa 30 percent na yung binabawas muna namin," Manuntag said.

He said that suppliers from Vietnam have hiked prices from $500 per metric ton to $600 per metric ton. This translates to an increase of almost P300 pesos per 50-kilogram sack.

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"Kung ikaw ay isang importer, titingnan mo muna kung kelan mababa ang presyo, kung kelan sila naghaharvest," Manuntag added.

The Federation of Free Farmers earlier said that suppliers abroad are renegotiating contracts and even canceling some deals so they can sell rice at a higher price.

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"Merong mga importer na may kontrata sa mga supplier sila abroad na na-peg ang kontrata at a certain price pero ngayon tumaas ang presyo. Yung mga ka-kontrata are re-negotiating, ayaw nang isupply dahil tumaas na ang presyo. Mas kikita sila kung ibenta sa mataas na presyo ayaw i-honor at low price, problema po yan," said Raul Montemayor of the FFF.

The Department of Agriculture is convincing importers to bring rice in before harvest season commences.

July and August are considered lean months, where local production is low.

"We are encouraging our private sector na sana iparating nila lahat ang kanilang phytosanitary import cleared na mga bigas nila. We really need to import but it has to be the private sector who needs to do it," said DA Undersecretary Mercedita Sombilla.

"Manipis yung third quarter natin. Yung ang sinasabi namin na since we cannot depend on local production yet because our harvesting will only probably start end of September or early October, yun yung height, ang peak ng harvesting season, we have to have to import rice para tumaas ng konte ang ating surplus," she added.

Under the Rice Tarrification Law, the government can only intervene in importation in the event of rice shortage.

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