MANILA, Philippines — The Philippines is expected to remain the world’s top importer of rice this year with the US Department of Agriculture (USDA) predicting that the country would increase its procurement of the staple. ADVERTISEMENTThe estimated volume is in contrast to the global rice trade estimated pegged at 52.2 million MT, down by 223,000 MT from 52.4 million MT a year prior. Increased importsAsian countries China, South Korea, Malaysia, and the Philippines are seen to increase imported rice purchases. In the previous year, the Philippines imported 3.6 million MT of rice, down by 5.9 percent from 3.8 million MT in 2021, based on the data from the Bureau of Plant Industry. Sufficient supplyIndia’s shipment was part of the 295,000 MT of rice earmarked by the Indian government despite its export ban on non-basmati white rice.

Source: Philippine Daily Inquirer January 20, 2024 23:10 UTC