SINGAPORE – To ensure sufficient supply following the devastation of the rice-producing regions from the series of typhoons that hit the country, the government has reached an agreement in principle to import the staple commodity from Thailand.

The initial negotiations for the rice importation between the Philippines and Thailand were held on the sidelines of the ongoing 20th Asia-Pacific Economic Cooperation (APEC) Summit of leaders here.

Trade and Industry Secretary Peter B. Favila told Manila Bulletin that there has been an agreement in principle for the rice importation but the details, specifically on the volume, will still have to be threshed out.

Favila met on Saturday with his counterpart, Thai Commerce Minister Pornthiva Nakasai, wherein Thailand has committed to supply, on a bilateral basis, the rice requirement of the country.

This came on the eve of the announcement by the Department of Foreign Affairs that Her Royal Highness Princess Maha Chakri Sirindhorn, the second daughter of King Bhumibol Adulyadej and Queen Sirikit of Thailand, will be in the Philippines on an official four-day visit. She arrives today, Sunday.

While in the country, the Thai princess is scheduled to attend the 6th International Rice Symposium in Los Baños, Laguna upon the invitation of the International Rice Research Institute (IRRI).

However, it was learned that aside from the bilateral agreement, Thailand has put forward the possibility of participating in any bidding invitation for regional economies such as Vietnam should the government deem necessary.

“Yes, there has been agreement in principle for the bilateral importation. But, Thailand indicated they, also, want to participate in the bidding process. They will be allowed for as long as it conforms to our international procurement process,” Favila said.

Exactly how this work will be ironed out in succeeding discussions on a technical level.

Manila Bulletin sources privy to the discussions pointed out that rice importation has to be undertaken by the government to make sure there will be ample supply of rice in the country while the rice producing areas notably, the Cagayan Valley, dubbed as the rice granary of the Philippines are still in the process of picking up from the havoc wrought by typhoons Ondoy, Pepeng and Santi.

Devastations from these weather disturbances, both on infrastructure and agriculture, have reached billions of pesos.

This, likewise, aims to deter the possibility of unscrupulous persons taking advantage of the situation by hoarding the commodity to create an artificial shortage and in turn earn extra-ordinary profit through higher retail price at the expense of the consumers