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Manila Bulletin devider Philippines devider National devider PH projected to remain as world's top rice importer — report

PH projected to remain as world's top rice importer — report

Published Jan 22, 2024 03:52 am

Despite being an agricultural country, the Philippines will remain as the top global rice importer this year, as projected by the US Department of Agriculture (USDA).

A Rice Outlook released by USDA's Economic Research Service stated it was projecting that the Philippines would import around 3.8 million tons of rice, much more than China, Indonesia, the European Union, Nigeria, and Iraq.

The report also projected an increase in the rice import of the following countries: Afghanistan, Angola, Bangladesh, China, the Democratic Republic of the Congo, Cuba, Ethiopia, Iran, South Korea, Liberia, Libya, Madagascar, Malaysia, Mexico, Nepal, the Philippines, Saudi Arabia, Sierra Leone, the United Arab Emirates, the United Kingdom, the United States, and Yemen.

In a statement in September 2023 when USDA also reported that the Philippines had already overtaken China in terms of being the world's top rice reporter, Department of Agriculture Undersecretary Leocadio Sebastian said the country’s rice importation for 2024 was expected to be lower than the USDA’s forecast.

"We also expect that with the intensified efforts to produce more rice locally, we will import less than the projected 3.8 MMT in 2024," Sebastian said.

The uncertainty of depending on external sources for our staple and the high price of imported rice makes it imperative for us to produce more locally," he added.

Meanwhile, the gobal rice trade for 2024 is projected to be lower, from 52.4 million tons (milled basis) in the year earlier to 52.2 million tons this year.

"The...small projected decrease in 2024 [is] largely due to export bans and other export restrictions implemented by the Government of India in 2022 and 2023," the report stated.

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