MANILA, Philippines — The nation imported 4.25 million metric tons (MT) of rice, as of November 28 surpassing previous years and showing a significant uptick from past records, said Bureau of Plant Industry (BPI).
The data reveals that the latest volume for an 11-month period already exceeds the 3.6 million MT imported throughout the entire year of 2023.
This substantial increase is a stark contrast to the previous record volume of 3.83 million MT set in 2022. In the first 23 days of November alone, traders brought in an additional 378,725.508 MT of rice, which nearly matches the October importation data of 572,073.96 MT.
Vietnam continues to be the leading supplier, contributing 3.27 million MT, which accounts for 77 percent of the total milled rice imports in the Philippines.
Thailand follows as a distant second with 544,724.15 MT, and Pakistan third with 215,049.48 MT. Other countries such as Myanmar, India, China, Japan, Cambodia, Italy, and Spain have also contributed to the Philippines’ rice imports within the same period.
Despite the significant volumes imported, the year-to-date figures remain 300,000 MT shy of meeting the Department of Agriculture’s (DA) estimate of 4.5 million MT for 2023.
The U.S. Department of Agriculture’s Foreign Agricultural Service (USDA-FAS) had a higher estimate of 5 million MT due to robust imports from Vietnam. The USDA-FAS noted in a recent report that the Philippines is importing “record amounts” driven by increased demand and reduced import duties.
In an effort to manage local supply, mitigate inflationary pressures, and stabilize prices, the Philippine government reduced the tariff on imported rice to 15 percent through Executive Order No. 62. Previously set at 35 percent, this tariff reduction is effective until 2028 and is seen as a move to incentivize traders and support the local market.
Agriculture Assistant Secretary Arnel de Mesa commented on the rising imports, suggesting that the volume could reach 4.5 million MT by the end of the year. He also mentioned that the current figures might partly reflect apprehended smuggling activities, providing a realistic view of the imports entering the country.
The DA has pointed out that recent typhoons have caused substantial losses in local rice production, making imports a necessary measure to ensure adequate supply and price stability.