The United States Department of Agriculture (USDA) forecasts higher rice imports for the Philippines due to domestic policy changes and market challenges arising from global factors.
The United States Department of Agriculture forecasts higher rice imports for the Philippines due to domestic policy changes and market challenges arising from global factors.The country's rice imports are forecast to reach 4.7 million metric tons this year, up from the 4.6 million MT previously projected by the agency. This is a 20-percent increase from the 3.9 million MT imported in 2023, making the Philippines potentially the top rice importer in the world.
The agency noted that the Philippines was a major consumer of rice and had become the largest rice importer due to the policy changes.It cited the passage of RA 11203, or the Rice Tariffication Law, in February 2019, which allows unrestricted importation of the staple by the private sector. The agency said that consumers had benefited from unrestricted rice importation as more low-priced rice was made available locally.The measure also resulted in the increased consumption of rice from 14.
Shifts To Boost PH Rice Imports Says USDA
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