MANILA, May 23 (Xinhua) -- The Philippines' National Food Authority (NFA) Council has approved the importation of 805,000 tons of Minimum Access Volume rice this year, a government statement said on Tuesday.
MAV refers to the volume of commodities that is allowed to be imported by a member country of the World Trade Organization. The 2017 Minimum Access Volume is the last of its kind before the lifting of the quantitative restriction on rice by June 30 this year.
Cabinet Secretary Leoncio Evasco said the council has also directed the NFA Management to amend the Minimum Access Volume guidelines to require participating traders to import 25 percent broken rice from the 25 to 35 percent quota.
"This will ensure adequacy of supply and stability of consumer prices at levels within the reach of low-income families," he said.
