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Rice import arrivals hit 2.08 MMT–report

11 June 2024

The country’s imported rice arrivals have reached more than 2.08 million metric tons (MMT) as of May 30, according to the latest data from the Bureau of Plant Industry (BPI). 

Figures from the attached agency of the Department of Agriculture (DA) showed that Vietnam remained as the country’s top source of imported rice, accounting for 1.52 MMT of imports. It was followed by Thailand with 319,740.74 metric tons (MT) and Pakistan with 147,169.50 MT. 

The Philippines’s other top rice suppliers were Myanmar (65,600 MT), India (21,169.50 MT), China (5,720 MT), and Japan (2,166.59 MT). 

LVM Grains Enterprises led the 148 rice importers with a total volume of 501,850 MT, followed by Purericemilling And Processing Corp. with 405,600 MT. 

Purefeeds Corp. and Sta. Rosa Farm Product Corp. each recorded a volume of 375,000 MT. 

Other top importers during the period were Orison Free Enterprise Inc. and Bly Agri Venture Trading which brought in 176,219 MT and 150,618 MT, respectively. 

The data also showed that BPI approved and issued 4,140 sanitary and phytosanitary import clearances (SPSICs) which covered the importation of 4.8 MMT of rice. 

The United States Department of Agriculture (USDA) raised its rice import forecast for the Philippines to 4.2 MMT in 2025, noting the country’s need to sustain its growing population and the increasing number of tourists set to visit it. 

“The Philippines imports are forecast up to a record 4.2 million tons on continued growth in consumption. The Philippines is expected to again be the largest global rice importer,” the latest monthly report on global grains trade read.

The country imported about 3.6 MMT of rice last year, lower than the USDA’s forecast of 3.9 MMT.

Data from the Philippine Statistics Authority (PSA) showed that unmilled rice in the first quarter fell by 2 percent to 4.685 MMT, from the previous year’s 4.77 percent due to the adverse impact of El Niño.

Source : businessmirror