THE country’s rice imports hit 3.4 million metric tons (MMT) as of mid-October, or about 95 percent of the actual shipments of 3.61 MMT last year. Data from the Bureau of Plant Industry (BPI) showed that rice arrivals from January 1 to October 10 reached 3.43 MMT.
THE country’s rice imports hit 3.4 million metric tons as of mid-October, or about 95 percent of the actual shipments of 3.61 MMT last year.
Rice shipments in August and September rose to nearly 400,000 metric tons , which was the average arrival from the first semester, based on BPI data. India, the world’s largest exporter, recently lifted its ban on non-basmati white rice shipments and set a minimum export price of $490 per MT. “Considering that it is cheaper compared to Vietnam and Thailand, it can be an option for additional rice supply and import diversification,” University of Asia and the Pacific’s Center for Food and Agribusiness Executive Director Marie Annette Galvez-Dacul said.
For one, the lack of ships and tropical storms discouraged traders who will have to comply with the government directive to bring in rice within a prescribed period.
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