THE Philippines will continue to be the world's leading rice importer with inbound shipments likely to hit 4.7 million metric tons (MT) this year, the United States Department of Agriculture (USDA) said.
THE Philippines will continue to be the world's leading rice importer with inbound shipments likely to hit 4.7 million metric tons this year, the United States Department of Agriculture said.The latest forecast is 20 percent higher than the 3.9 million MT imported in 2023. It also highlights the growing demand for rice in the Philippines, driven by population growth and consumption patterns.According to the US agency's June report, global imports are projected to rise to 53.
Major rice exporters such as Vietnam and Thailand are expected to benefit from this increased demand.Data from the Bureau of Plant Industry showed that as of May, Vietnam remained the country's top source of rice, having accounted for 1.52 million MT, or 72.9 percent of the total 2.08 million MT of imports for the five-month period.The projected increase in imports comes amid efforts by the Philippine government to stabilize domestic rice prices and ensure food security.
Seen Buying 4.7 Million MT Remain World's Top Rice Importer
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