outbrain
Close  

PH to remain world’s top rice importer

By: - Reporter / @kocampoINQ
/ 05:14 AM May 14, 2020

Despite moves by the Department of Agriculture to increase the country’s local production of palay, global projections showed that the Philippines is still on its way to become the biggest importer of the grain this year and the next.

Based on a report released by the US Department of Agriculture Foreign Agricultural Service, the Philippines is expected to import 2.5 million metric tons (MT) of rice this year and 3.3 million MT of rice in 2020—seen to be the highest in the world and the highest for the country.

ADVERTISEMENT

This would make the Philippines the biggest rice importer for three consecutive years, with a population of 108 million, eventually displacing China from the top spot. The economic behemoth, with a population of 1.4 billion, is only projected to import 2.3 million MT and 2.2 million MT of rice for this year and in 2021.

The Federation of Free Farmers (FFF) said the government’s decision to allow the unimpeded arrival of imports and its campaign to increase local production might sow confusion among Filipino rice farmers, adding that pursuing both policies would inevitably result in an overwhelming glut.

FEATURED STORIES

“Based on our computations, we will have an ending inventory by Dec. 31 of this year of 3.9 million MT of rice, good for 110 days, if both these policies are pursued,” FFF national chair Raul Montemayor said. “This will create a glut that will bring down prices during the main harvest season from September to November this year and will even spill over to the dry season harvest from February to April next year.”

DA’s own computation showed that there would be an excess supply for 94 days by the end of 2020, assuming that all import permits would be used by the private sector. According to the Bureau of Plant Industry, it has approved the entry of 2.7 million MT of rice this year, 28 percent of which have already arrived in the country.

Subscribe to Inquirer Business Newsletter
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Department of Agriculture, rice importer
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.