THE VOLUME of Philippines-bound milled rice is expected to rise in 2016, keeping the country among the world’s biggest importers at No. 3, according to the US Department of Agriculture.
The USDA’s Economic Research Service (ERS), which tracks the global rice market for one of the world’s biggest exporters, also projects increased importation by other large markets such as Brazil, China, Ghana, Indonesia, Iran and Iraq.
“At 4.7 million tons, China remains the largest rice-importing country in 2016, with imports up 4 percent from a year earlier,” the ERS said. “China’s rice imports have been record-high since 2012.”
The Philippines trails Nigeria, which the American agency expects to substantially reduce imports by 17 percent to 2.5 million tons—mainly due to increased import tariffs, low oil prices as well as foreign exchange restrictions.