PHILIPPINES PROJECTED TO BE WORLD’S TOP RICE IMPORTER / JANUARY 22, 2024
Workers load sacks of imported rice from Thailand and Vietnam on a truck in Dagupan, Manila for transport to various dealers and distributors. 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. “The Philippines is projected to remain the number one global rice importer – taking a record 3.8 million [metric] tons – in 2024, followed by China, Indonesia, the European Union, Nigeria, and Iraq,” the USDA’s Economic Research Service said in a report.
INQUIRER PHOTO / RICHARD A. REYES
During the government’s televised “Bagong Pilipinas Ngayon” program, Agriculture Secretary Francisco Tiu Laurel Jr. contradicted the latest projection of the US Department of Agriculture (USDA) that the country could purchase 4 million metric tons of imported rice for 2024.
READ: PH expected to cut down rice imports on weaker El Niño
“I feel that maybe we do not need to bring in 4 million MT of imported rice for this year,” Tiu Laurel said. “The USDA estimate might be, in my opinion, a bit too high. I think that’s the worst-case scenario. I think we will not reach that point.” Revised forecast
Last month, the USDA downgraded its forecast on Philippine rice imports to 4 million MT from its previous projection of 4.1 million MT, noting that domestic production would cover the slight increase in demand.
It said in a report that the weakened El Niño forecast would support improved growing conditions for the wet season rice crop, resulting in stable import demand.
Tiu Laurel cited government estimates in saying there was an expected “incremental increase” in local output pegged at 4.78 million MT in the first quarter of this year, up by 1.11 percent from the previous year. He added that production “seems to be okay even with [the] El Niño phenomenon.”
“Of course, the production in the second quarter might be affected because this is the height of [the] El Niño [phenomenon], but after El Niño, we expect our harvest to be okay,” he said. “Hopefully, with the incoming La Niña phenomenon, the effect [on rice production] won’t be that much.”