Phl to import 3.5 M MT of rice - NEDA

Despite a projected higher rice output, the Philippines will still have to import about 3.5 million metric tons (MT) of the staple this year to meet its total requirement, government estimates showed.

- By JASPER EMMANUEL ARCALAS

Local rice production is estimated to grow by three percent to 12.89 million MT this year from last year's 12.48 million MT, based on National Economic and Development Authority data obtained by The STAR.

NEDA noted that the domestic output is still 17 percent short of meeting the country's total rice demand estimated at 15.54 million MT.

The country is projected to import some 3.45 million MT of rice this year to plug the shortfall in domestic output and ensure sufficient carry-over stocks at the start of next year, according to NEDA.

The estimated figure is substantially lower than last year's record import volume of 4.8 million MT.

NEDA figures showed that domestic rice production from the first quarter until the third quarter will not be enough to meet domestic demand, thus emphasizing the need for imports.