The Philippines has taken delivery of 500,000 metric tonnes of rice as the government sought to assure an edgy public that supply of the staple food was adequate, President Gloria Arroyo said, reports AFP.

“We can report that our supply is secure for the foreseeable future,” Arroyo said in a statement before meeting with economic officials.

She said 500,000 metric tonnes of rice from Vietnam and Thailand would be used as a buffer for lean harvest months between July and September.

An additional 700,000 metric tonnes is expected to arrive between April and June with 80 percent from Vietnam and the balance split between Thailand and Pakistan, the statement said.

Arroyo said the government would ensure stocks are properly distributed to reach the poor, who are most affected by soaring prices due to a global supply crunch.

“It would be unfortunate if panic took over logic,” Arroyo said, as she urged strengthened cooperation between government, the public and the private sector.

“Concerning enforcement of laws against hoarding and corruption, we have already taken steps to protect our consumers from rice bandits, and unscrupulous traders,” she said.

“I am leading the charge to crack down on any form of corruption by public or private officials who would divert supplies or pervert the price of this essential commodity in any way,” she stressed.

The Philippines, a farming nation of 90 million, is among the world’s largest importers of rice, a staple food. Analysts meanwhile have said that any sudden upward movements in the price of the commodity could lead to social unrest and pose security problems. The government has deployed police and military to crack down on rice hoarders.

Those found hoarding commodity are to be charged with “economic sabotage” a crime punishable by life imprisonment, the government has warned.

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