Philippines sees rice output up 11pc in 2012

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MANILA, Dec 15 (Reuters): The Philippines, once the world's top rice buyer, aims to grow its output of the grain 11 per cent to hit a record volume next year as it seeks to further reduce imports and achieve self-sufficiency in rice by the end of 2013. President Benigno Aquino said on Thursday the Agriculture department's annual budget next year would jump by more than 50 per cent, allowing it to ensure the country would produce 18.57 million metric tonnes of the staple food in 2012. The volume is 11.33 per cent higher than this year's projected output of 16.68 million tonnes. "The Department of Agriculture's budget of 53.3 billion pesos will ensure we will achieve production of 18.57 million metric tonnes of palay (unmilled rice)," Aquino said, after signing into law the 2012 national budget. Last month, Agriculture Secretary Proceso Alcala said a third of his department's 2012 budget would be spent to build new, and rehabilitate old, irrigation facilities. The Bureau of Agricultural Statistics has lowered its rice production estimate for this year from 17.3 million tonnes after typhoons damaged about 1 million tonnes of standing crop. The Southeast Asian country, which purchased a record 2.45 million tonnes for 2010 needs, slashed its imports to 860,000 tonnes this year and plans to further reduce its buy only 500,000 tonnes next year. ($1=44.1 Philippine pesos).