Mounting Philippine Rice Imports: A Continuing Trend
Published on: June 11, 2024.
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Philippine Rice Imports Rise by 27% in the First 5 Months of 2023
Rice imports in the Philippines have increased by more than a quarter this year, reaching over two million metric tons (MT) from January to May, according to data from the Bureau of Plant Industry (BPI). This marks a 27% growth compared to the same period last year.
The surge in imports can be attributed to the country’s need to bolster its rice stockpile amid the dry spell affecting domestic production.
Vietnam remained the top supplier of rice to the Philippines, accounting for almost three-fourths, or 1.522 million MT, of the imports during the period. Thailand followed with 319,740.74 MT.
Notably, rice imports from non-traditional sources, particularly from countries outside Southeast Asia, have seen an exponential increase in the past five months. The Philippines imported 147,169.5 MT of rice from Pakistan during this period, a growth of more than 48% compared to the entire year of 2022.
India, another non-Southeast Asian country, also saw a significant increase in its rice exports to the Philippines, shipping 21,169.5 MT during the first five months of 2023, more than half of the total volume exported in the whole of 2022.
Among the 161 rice importers during the reference period, BLY Agri Venture Trading led the pack with a total volume arrival of 131,178.99 MT. Orison Free Enterprise Inc and Macman Rice and Corn Trading followed with import volumes of 127,924.35 MT and 114.330.8 MT, respectively.
During the January to May period, these three companies were the only ones that imported over 100,000 MT of rice.
To ensure the safety and quality of the imported rice, importers are required to obtain sanitary and phytosanitary import clearances (SPSICs). From January to May 28, the BPI issued 4,140 SPSICs for the importation of over 4.8 million MT of rice.
In an effort to address concerns over low or underutilization of SPSICs, the Department of Agriculture (DA) has tightened regulations on rice importation. They are pushing for stronger regulatory powers to penalize rice importers who fail to utilize their applied and approved SPSICs within the designated timeframe.
The United States Department of Agriculture predicts that the Philippines will remain the world’s largest rice importer for this year, with a projected total import volume of 4.1 million MT.
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