The Philippines is expected to import more rice this year and next, remaining as the world’s top importer of this staple food as the El Niño, La Niña and recent typhoons have curbed local production.
In its latest Grain: World Markets and Trade report, the US Department of Agriculture’s Foreign Agricultural Service estimated that the country’s rice imports would reach 4.7 million metric tons (MT) this year, up by 2.2 percent from its previous estimate of 4.6 million MT, citing “strong buying of Vietnam rice.”
Philippine rice imports are expected to further increase to 4.9 million MT in 2025 because of “smaller crop” delivered by local farms.
The latest USDA projection aligns with a higher forecast for global rice imports this year, attributed to increases in demand from Malaysia and Nepal, despite estimates of
higher worldwide production.
-->
The report sees a surge in global imports next year, underpinned by higher demand from several African and Asian markets even as India’s trade policy changes are expected to boost global supply and lower prices.
India recently lifted the export ban on non-basmati white rice that had been imposed 14 months ago.
A previous report by the foreign agency slashed its rice production forecast for the Philippines due to crop damage from successive typhoons and a reduction in area harvested due to land conversion.
Vietnam remains as the top rice supplier (2.61 million MT) during the reference period, followed by Thailand (416,185.19 MT) and Pakistan (157,564.48 MT). India shipped 76,971 MT of grains.
The latest figure on rice imports already amounted to 91.3 percent of the country’s purchases last year.
Government data showed that rice import volume in the country had risen consistently from 2019 to 2022 before declining in 2023.
The country produced 8.53 MT of palay (unhusked rice) in the first half of this year, down 5.5 percent from last year, according to the Philippine Statistics Authority.
Source: Inquirer. net
