The Philippines has ramped up rice imports in the first five months of 2024, reaching 2.3 million tons, according to data from the United States Department of Agriculture (USDA) Foreign Agricultural Service (FAS).
The surge in imports comes alongside a strategic shift in sourcing, with the Philippines looking for other sources other than the traditional supplier, Vietnam.
While Vietnam remains the country’s largest supplier with 1.8 million metric tons (MT), Thailand, Myanmar, and Pakistan have collectively contributed over 430,000 tons of rice to the Philippines’ import total, so fa, this year.
The USDA forecasts rice imports for the entire marketing year (2024/25) to remain flat at around 4 million MT, with continued diversification expected.
FAS noted that the diversification of sources offers a proactive approach to ensuring food security amidst rising global food prices.
The shift comes as Vietnam, the country’s traditional top supplier, faces rising prices and tighter rice export quotas.
Rising global food prices and potential supply chain disruptions have prompted Vietnam to implement stricter export controls, leading to higher prices for the Philippines.
The USDA report also covers other key grains for the Philippines. Corn production is expected to decline slightly to 8.4 million MT due to recent typhoons and the presence of the fall armyworm pest.
The shortfall will likely be addressed through increased imports, with forecasts reaching 1 million MT for corn in MY 2024/25. Wheat imports are expected to remain steady at around 5.9 million MT.
The USDA report highlighted Philippines government efforts to boost domestic production through increased spending on inputs and machinery.
