Philippines expected to Increase Rice Imports as Harvest may all short this year

The Philippines is expected to increase rice imports this year as rice may shortfall in local harvest.

According to the Foreign Agricultural Services of US Department of Agriculture (USDA), it is expected that the country would import 4.1 Million metric tons of rice this year, adding up by 200,000 MT or 5.1% from the previous rate of 3.9 million MT in February due to small harvest of farms.

If the target is reached, the expected import would be nearly 14% more than the 3.6 million MT of rice that entered the country in 2023.

The Philippines would remain as the one of leading rice importer in the world followed by China, Indonesia, and European Union.