The Ministry of Commerce notified temporarily suspension on the issuance of rice export permits.
MEASURES
- The issuance of rice export licenses was halted, following the declaration of the coronavirus as a pandemic
- Traders with existing license can continue with trading activities
- The Director General of the Department of Trade explained that the restriction is just a transition measure as arrangements are made to put in place a better system. There is no further information shared about the new system or when it would be put in place
- Official from the Ministry of Agriculture, Livestock and Irrigation dispelled speculation that the ban may be intended to secure
domestic rice supplies during the outbreak
IMPACT ON FOOD SUPPLY CHAIN
- While the intent of such measures is to protect domestic supplies, there may be ripple effect on global prices, which would impact national food insecurity