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The Philippines continues to lead global rice imports in 2024, with the United States Department of Agriculture (USDA) forecasting imports to reach approximately 3.8 million metric tons. This high import volume is driven by a surge in local rice prices, which have reached a 14-year high, prompting larger purchases from international markets, particularly Vietnam. Check here.
The significant reliance on imports is due to several factors, including inadequate domestic milling capacity and the need to blend imported wheat flour with domestic supplies to enhance protein content. The country’s imports for 2024 have already shown a substantial increase, with significant volumes being reported as early as January.
For more detailed insights into the dynamics of rice imports and market conditions in the Philippines, you can access the full articles on Philstar and the International Trade Council’s reports here.
