Victorio Valerio, the president of the National Federation of Rice Producers (FENARROZ), told reporters that the country has rice to supply the entire year?s local demand. The circulating rumors of a rice scarcity are what is thought to have prompted the statement of the representative for the rice producers, in order to calm the fears of rice wholesalers and retailers alike. With 3.136 million quintals (hundred-weights) in storage until next 30 June, Valerio said, ?It is impossible for the country to consume that much rice between now and then?. The date of 30 June traditionally signifies the beginning of the spring harvest.