PHILIPPINES PROJECTED TO BE WORLD鈥橲 TOP RICE IMPORTER / JANUARY 22, 2024
Workers load sacks of imported rice from Thailand and Vietnam on a truck in Dagupan, Manila for transport to various dealers and distributors. The Philippines is expected to remain the world鈥檚 top importer of rice this year with the US Department of Agriculture (USDA) predicting that the country would increase its procurement of the staple. 鈥淭he Philippines is projected to remain the number one global rice importer 鈥� taking a record 3.8 million [metric] tons 鈥� in 2024, followed by China, Indonesia, the European Union, Nigeria, and Iraq,鈥� the USDA鈥檚 Economic Research Service said in a report.
INQUIRER PHOTO / RICHARD A. REYES
During the government鈥檚 televised 鈥淏agong Pilipinas Ngayon鈥� program, Agriculture Secretary Francisco Tiu Laurel Jr. contradicted the latest projection of the US Department of Agriculture (USDA) that the country could purchase 4 million metric tons of imported rice for 2024.
READ:
鈥淚 feel that maybe we do not need to bring in 4 million MT of imported rice for this year,鈥� Tiu Laurel said. 鈥淭he USDA estimate might be, in my opinion, a bit too high. I think that鈥檚 the worst-case scenario. I think we will not reach that point.鈥� Revised forecast
Last month, the USDA downgraded its forecast on Philippine rice imports to 4 million MT from its previous projection of 4.1 million MT, noting that domestic production would cover the slight increase in demand.
It said in a report that the weakened El Ni帽o forecast would support improved growing conditions for the wet season rice crop, resulting in stable import demand.
Tiu Laurel cited government estimates in saying there was an expected 鈥渋ncremental increase鈥� in local output pegged at 4.78 million MT in the first quarter of this year, up by 1.11 percent from the previous year. He added that production 鈥渟eems to be okay even with [the] El Ni帽o phenomenon.鈥�
鈥淥f course, the production in the second quarter might be affected because this is the height of [the] El Ni帽o [phenomenon], but after El Ni帽o, we expect our harvest to be okay,鈥� he said. 鈥淗opefully, with the incoming La Ni帽a phenomenon, the effect [on rice production] won鈥檛 be that much.鈥�