Imported rice from Vietnam being unloaded in Surigao City port. —FILE PHOTO
The Philippines is likely to remain the world’s top rice importer, according to the US Department of Agriculture (USDA). This year, rice imports are projected to rise to 4.1 million metric tons, a 5.1 percent increase from last year’s 3.9 million metric tons.
The USDA’s Foreign Agricultural Service explained in a report that this record-high import volume is due to expected population growth and increased tourism. Most of the imports are expected to come from Vietnam.
On the other hand, India is projected to remain the world’s leading rice exporter despite trade restrictions, with exports pegged to hit 18 million MT, equivalent to about a third of the total global export volume.
“Exports are expected to increase, driven by a larger crop and ample stocks. Despite trade-restrictive measures for a portion of rice exports, volumes are set to remain robust,” the USDA said. Rebounding exports from India will partially offset declines from other major exporters Vietnam, Thailand, Pakistan and Myanmar. INQ
READ: PH replaces China as world’s top rice importer
PH seen importing more rice in 2024