PH rice imports to reach new high

The Philippines, the world’s top rice importer, is expected to purchase a record-high volume of rice in the upcoming marketing year (MY), as the country sees continued growth in consumption, according to the United States Department of Agriculture (USDA).

- By DEXTER BARRO II

In its latest “Grain: World Markets and Trade” report released on May 12, the USDA’s Foreign Agricultural Service (FAS) estimated Philippine rice imports to rise by two percent—from 5.4 million metric tons (MT) to 5.5 million MT—within the period starting July this year and ending in June next year.

The USDA attributed the increase to rising consumption, driven by the growing Filipino population which currently stands at over 110 million people.

Improving interest in Philippine tourism and the overall continued reliance on the staple were likewise cited as influential factors.

If the USDA’s forecast is realized, the Philippines is set to solidify its ranking as the world's largest importer of rice for the fourth consecutive year.