KUALA LUMPUR, Filipino authorities announced primary loss in rice crop caused by Typhoon Mangkhut by up to 250,730 tons on Monday.
Secretary of the Philippines Department of Agriculture Emmanuel Pinol estimated the loss in crops at 9.6 billion Philippines peso (USD 177 million), adding that the rate is expected to go up to 11 or 12 billion peso.
Meanwhile, he did not expect the loss to affect rice prices in typhoon-hit areas, adding that there are enough reserves of rice in these areas. The loss in rice crops exceeded expectations of the Department of Agriculture which was at 157,000 in the worst case scenario.
Typhoon Mangkhut left about 60 dead in the Philippines before heading to Hong Kong, Macau and southeastern China.
Source: Kuwait News Agency