Based on records from the Philippine Ports Authority (PPA), more than 700 shipping containers of rice are waiting to be taken out of the Manila International Container Terminal (MICT) and the Manila South Harbor.
Estimates showed that these rice imports might be worth over P555 million, based on the capacity of the containers and the volume inside.
Jay Santiago, PPA general manager, is not discounting the possibility that rice traders are intentionally holding on to the shipments at the ports because they are waiting for rice prices in the market to increase.
This story is from the September 20, 2024 edition of The Philippine Star.
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This story is from the September 20, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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