Philippines remains the leading global importer of rice
Published on: May 28, 2024.
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According to the US Department of Agriculture (USDA), the Philippines is predicted to maintain its position as the leading rice importer globally. In 2024, rice imports are expected to increase to 4.1 million metric tons, representing a 5.1 percent growth compared to the previous year’s 3.9 million metric tons.
The USDA’s report from the Foreign Agricultural Service attributes this record-breaking import volume to the projected population growth and the rise in tourism. Vietnam is anticipated to be the primary source country for the majority of rice imports into the Philippines.
On the other hand, India is forecasted to retain its status as the world’s top rice exporter, despite facing trade restrictions. India’s rice exports are estimated to reach 18 million metric tons, accounting for approximately one-third of the global export volume.
The USDA states that India’s export volume is expected to surge due to a larger crop and abundant stocks. Despite certain trade-restrictive measures, the USDA predicts that India’s rice exports will remain strong. The rebounding exports from India will also partially offset the declines experienced by other major exporters such as Vietnam, Thailand, Pakistan, and Myanmar.
With these projections in mind, it is evident that the agricultural landscape in regards to rice trade is continuously evolving. The Philippines establishes itself as a significant rice importer, while India solidifies its position as a leading rice exporter despite trade restrictions.
Source: [Cebu Daily News](https://cebudailynews.inquirer.net/)
