USDA EXPECTS PHL TO REMAIN TOP GLOBAL RICE IMPORTER

THE Philippines will remain as the world’s largest importer of rice as it will purchase 4.2 million metric tons (MMT) in 2025, according to a report published by the United States Department of Agriculture (USDA).

“The Philippines imports are forecast up to a record 4.2 million tons on continued growth in consumption. The Philippines is expected to again be the largest global rice importer,” the latest monthly report on global grains trade read.

The USDA has projected in its monthly report that the Philippines will import to feed its growing population and the increasing number of tourists who will visit the country.

Indonesia, the USDA said, will see the biggest change in rice imports next year due to larger crops and carry-over stocks.

“In 2025, the largest change for rice imports is for Indonesia where imports are forecast down 2.0 million tons to 1.5 million tons due to a larger crop and sufficient beginning stocks,” the report read.

The decline in Indonesia’s rice import would impact the rice exports in Thailand and Vietnam, with USDA’S projections down 900,000 metric tons (MT) and 500,000 MT, respectively.

“Thailand rice exports are forecast at 7.5 million tons, down 900,000 tons from the prior year. Lower demand is expected from Southeast Asia, particularly from Indonesia,” USDA said.

“Vietnam exports are forecast at 7.5 million tons, down 500,000 tons from the prior year, primarily due to sharply lower demand from Indonesia.”

The Philippines and China, which account for over 50 percent of Vietnam’s exports, were expected to continue purchasing large amounts of rice.

The Philippines’s unmilled rice production declined by 1.96 percent to 4.69 MMT in the first quarter of 2024 from the 4.78 MMT recorded in the same period in 2023, according to data from the Philippine Statistics Authority (PSA).

Agriculture Secretary Francisco Tiu Laurel Jr. earlier assured the public of sufficient rice supply through the first half of the year, with recent imports and the upcoming harvest that peaks in March and April, ensuring the stable price of the country’s main food staple through June despite the ill effects of El Niño.

“We have enough rice supply so prices should remain stable through the first half of the year. Our priority now is market stability,” tiu Laurel said.

The Philippines earlier signed a fiveyear rice supply deal with Vietnam that ensures a source of 1.5 MMT to 2.0 MMT of rice a year. India, the DA said, also “promised” to provide the country with additional supply despite the import ban on non-basmati rice.