The Philippines imported 2.8 million metric tonnes (MT) of rice during the first eight months of 2024, reflecting a 19% increase compared to the same period last year, according to data from the Department of Agriculture (DA). The Bureau of Plant Industry (BPI) reported that rice imports in August rose to 296,350.9 MT, up from 167,403 MT in July. However, this was still below the average monthly import volume of 400,000 MT recorded earlier in the year. Agriculture Assistant Secretary Arnel de Mesa noted a decrease in rice prices, with regular and well-milled rice being sold at around 45 PHP (approximately US$0.8) per kilo, and some prices dropping to PHP42.
The report indicates that Vietnam continues to be the Philippines’ largest supplier, accounting for over 2.17 million MT, or approximately 77% of total imports from January to August. Other significant suppliers include Thailand (371,390 MT), Pakistan (156,121 MT), and Myanmar (66,910 MT). For the previous year, rice imports totaled 3.6 million MT, a decrease of 5.9% from the record-high 3.82 million MT in 2022. The DA forecasts that rice imports for 2024 will likely remain below last year’s figures.
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