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The country’s rice imports surged 23 percent to nearly 2.4 million metric tons (MT) from January to May compared to the same period last year, as traders rushed to fortify inventories ahead of an expected dip in local production.

Citing Bureau of Customs (BOC) data, the Congressional Policy and Budget Research Department (CPBRD) reported that the Philippines imported 2.38 million MT of rice in the first five months of the year—up from 1.93 million MT during the same window last year.

The CPBRD, the house think tank of the House of Representatives, noted that this spike aligns with United States Department of Agriculture (USDA) projections forecasting an import increase for the current market year.

In a March report, the USDA warned that domestic production this year would fail to keep pace with rising demand fueled by population growth.

“The report further cites escalating costs of farm inputs—particularly imported chemical fertilizers and petroleum products—depleted buffer stocks, and a looming Super El Niño as key factors pressuring the Philippine government to aggressively build up its rice reserves,” the CPBRD said.

The Department of Agriculture (DA) previously warned that local rice output could slide to 18.6 million MT this year, falling sharply short of its initial, record-setting target of 20.28 million MT.

BOC data revealed that milled rice made up 99.45 percent of total imports during the five-month period, with the remaining fraction consisting of paddy and unmilled rice shipments destined for planting.

Vietnam held its ground as the country’s top rice supplier. Imports from the nation rose 20 percent to 2.05 million MT, accounting for nearly 86 percent of the total volume. The CPBRD credited this dominance to cheaper pricing, noting that export prices for Vietnamese rice fell by nearly 10 percent compared to last year's averages.

“January to May import records from 2023 to 2026 reveal that the Philippines imported an average of 1.68 MMT and a total of 6.72 MMT from Vietnam,” the think tank added.

Thailand ranked as the second-largest supplier at 169,941 MT (7.14 percent), followed by Myanmar at 87,666 MT (3.68 percent), and Cambodia at 54,600 MT (2.28 percent).

In total, the CPBRD noted that the Philippines spent approximately ₱57.38 billion on milled rice from Association of Southeast Asian Nations (ASEAN) trade partners, compared to a mere ₱373.34 million from non-ASEAN nations.

“This stark disparity highlights the importers' preference for sourcing rice from neighboring ASEAN countries to rapidly replenish domestic stocks,” the think tank said.

Meanwhile, tariff collections are pacing significantly ahead of last year. The BOC raked in ₱8.67 billion in rice tariffs by the end of May, already hitting 63 percent of the ₱13.71 billion collected in all of last year.

Total tariff collections had plummeted 57 percent last year from the ₱34.18 billion recorded in 2024, triggered by a tariff rate slash from 35 percent down to 15 percent. That decline was worsened by a four-month import ban at the tail end of 2025, which suppressed overall import volumes.

“When the import ban officially expired on January 1, 2026, traders and importers aggressively rushed to secure volumes to replenish depleted domestic commercial inventories,” the CPBRD said.

Source : mb