After ‘Santi,’ rice losses may hit P2.9-B mark

An economist from the government think tank Philippine Institute for Development Studies (PIDS) cited estimated losses of P2.9 billion in rice production alone to press for a rethinking of the government’s rice importation policy. Roehlano Briones, senior research fellow at PIDS, in a study, projected prices to go higher as a result of the devastation wrought by Santi. "Even without the devastation, we need a more open policy toward rice importation. The impact of Typhoon Santi makes it even more necessary,” Briones said in his study. Santi damaged some 134,017 metric tons of rice in three regions. Central Luzon, considered as one of the country’s rice granaries, suffered the biggest loss at P2.2 billion.