The latest report from the BPI showed that the country's rice imports from January 1 to May 23 went up by 20.3 percent to 1.97 million MT, higher compared to last year's 1.64 million MT. Thailand delivered some 300,227.24 MT of rice, Pakistan followed with 144,834.50 MT, and some 65,080 MT came from Myanmar. Last year, inbound shipments of the staple totaled 3.6 million MT, down 5.9 percent from the record high of 3.82 million MT logged in 2022. The US agency forecast the country's imports to hit a record 4.2 million MT due to continued growth in consumption. Rice inventory as of the beginning of the month was estimated at 1.64 million MT, lower than the 1.84 million MT logged in the same period of 2023.
