The United States Department of Agriculture (USDA) has lowered its forecast for the Philippines’ rice imports this year by 500,000 metric tons (MT) to 4.9 million MT, following a 60-day import ban ordered by the government.
The new projection, contained in the USDA’s latest global grains trade report, represents a 9-percent drop from its earlier estimate of 5.4 million MT.
The ban, ordered by President Ferdinand Marcos Jr., will take effect from Sept. 1 to Oct. 31 to stabilize local rice prices, the government said.
The move comes amid complaints from local farmers who say an influx of cheaper imported rice has pushed down the prices they can get for their crop.
Despite the reduction, the Philippines is still expected to remain the world’s top rice importer for the fourth consecutive year, according to the USDA data.
The USDA report also projected the country’s local rice output at 12.4 million MT for the 2024-2025 season and 12.3 million MT for the following year. This contrasts with the Philippine government’s target of over 20.46 million MT of unhusked rice (palay).
Data from the Philippine Statistics Authority (PSA) show that first-half output increased 6 percent year-on-year to 9.08 million MT.
