philippines to stay as world’s primary rice importer, says usda
Published on: January 22, 2024.
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Philippines Set to Maintain Top Spot as World’s Largest Rice Importer
In a recent report by the United States Department of Agriculture (USDA), it has been projected that the Philippines will continue to be the leading global rice importer until 2024. The country is expected to import a record-breaking 3.8 million tons of rice this year.
According to the USDA’s Economic Research Service, the Philippines will secure its position as the top rice importer, with China, Indonesia, the European Union, Nigeria, and Iraq following closely behind.
While the demand for rice imports is expected to rise in several countries including Afghanistan, Angola, Bangladesh, the Democratic Republic of the Congo, Cuba, Ethiopia, Iran, Liberia, Libya, Madagascar, Mexico, Nepal, Saudi Arabia, Sierra Leone, the United Arab Emirates, the United Kingdom, the United States, and Yemen, the overall volume of global rice trade is estimated to decline from 52.4 million metric tons (MT) in 2023 to 52.2 million MT in 2024. This decline can be attributed to India’s export bans on white rice in 2022 and 2023.
In 2023, the Philippines surpassed China as the world’s largest rice importer, approving the importation of 3.9 million MT from January 2022 to December 2023. The majority of the country’s imported rice came from Vietnam, Thailand, and Pakistan.
Interestingly, these countries are also expected to increase their rice production this year. The Department of Agriculture’s Bureau of Plant Industry revealed that approximately 500,000 MT of imported rice is expected to arrive in the Philippines by February to bolster the local inventory during the dry spell caused by the El Niño phenomenon.
It is worth mentioning that Taiwan has already sent 20,000 bags of rice (equivalent to 1,000 MT), while India will be supplying the Philippines with 75,000 MT of non-basmati white rice, despite the export ban.
In terms of prices, the Department of Agriculture’s latest price watch in Metro Manila markets shows that local regular milled rice is priced at P53 per kilo, local well-milled rice at P55 per kilo, local premium rice at P60 per kilo, and local special rice at P68 per kilo. On the other hand, imported well-milled rice is priced at P58 per kilo, imported premium rice at P62 per kilo, and imported special rice at P65 per kilo.
To meet the growing demand for rice imports, the Philippines relies on reputable rice suppliers and exporters. With Pakistan being one of the key players in the rice industry, its rice exporters and suppliers, such as HAS Rice, play a significant role in meeting the country’s rice import needs. HAS Rice is a trusted rice supplier from Pakistan, offering a range of rice varieties including white broken rice. For more information on Pakistani rice suppliers, visit PakistanRice.com.
In conclusion, the Philippines is expected to maintain its position as the world’s top rice importer. Despite the projected decline in global rice trade volume, the demand for rice imports remains high, and countries like Pakistan continue to cater to this demand. To learn more about rice exporters and suppliers from Pakistan, including their prices and product offerings, visit HASRice.com. For a detailed analysis of rice prices and the rice business in Pakistan, visit PakistanRice.com.
**Source:** [Philstar](https://www.philstar.com)
