Philippines rice imports up 19% in 8 months
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Rice imports to the Philippines amounted to 2.8 million metric tonnes (MT) during the first 8 months of this year, 19% higher than he same period last year, data from the country’s Department of Agriculture (DA) showed.
In its latest report, the department’s Bureau of Plant Industry (BPI) said in August alone, rice from abroad increased to 296,350.9 MT compared to 167,403 MT in July. However, it was still lower than the average monthly arrival of 400,000 MT logged in the earlier months.
Agriculture Assistant Secretary and spokesman Arnel de Mesa said rice prices have been decreasing. Regular and well-milled rice is sold at around 45 PHP (US$0.8) per kilo and even as low as PHP42, he added.
According to the report, Vietnam remained the Philippines’ top source of the staple during the period, shipping over 2.17 million MT or around 77% of the country’s total imports in the January-August period. It was followed by Thailand (371,390 MT), Pakistan (156,121 MT) and Myanmar (66,910 MT).
Last year, inbound shipments of rice totaled 3.6 million MT, down 5.9% from the record-high 3.82 million MT in 2022. The DA projects rice imports for this year will not exceed last year’s volume.
Questions & Answers
Q.What was the total volume of rice imported by the Philippines in the first eight months of this year?
What was the total volume of rice imported by the Philippines in the first eight months of this year?
The Philippines imported 2.8 million metric tonnes of rice during the first eight months of this year. This figure represents a 19% increase compared to the same period in the previous year.
Q.Which country supplied the largest amount of rice to the Philippines during the January to August period?
Which country supplied the largest amount of rice to the Philippines during the January to August period?
Vietnam was the top source, supplying over 2.17 million metric tonnes of rice. This accounted for approximately 77% of the Philippines' total rice imports during that specific period.
Q.Did rice imports in August align with the average monthly arrivals seen earlier in the year?
Did rice imports in August align with the average monthly arrivals seen earlier in the year?
No, rice imports in August, at 296,350.9 metric tonnes, were lower than the average monthly arrival of 400,000 metric tonnes logged in the earlier months of the year.
Q.What is the projection for the Philippines' total rice imports by the end of this year?
What is the projection for the Philippines' total rice imports by the end of this year?
The Department of Agriculture projects that rice imports for this year will not exceed the 3.6 million metric tonnes volume recorded in the previous year.
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