Imported rice from Vietnam being unloaded in Surigao City port. —FILE PHOTO
The US Department of Agriculture (USDA) expects the Philippines to keep its title as the world’s leading importer of rice, with shipments this year expected to increase to 4.1 million metric tons, 5.1 percent more than the 3.9 million brought in last year.
The USDA’s Foreign Agricultural Service said in a report that the volume of imports would reach this record high on the back of the anticipated “growth in population and increased tourism,” with shipments mainly coming from Vietnam.
On the other hand, India is projected to remain the world’s leading rice exporter despite trade restrictions, with exports pegged to hit 18 million MT, equivalent to about a third of the total global export volume.
“Exports are expected to increase, driven by a larger crop and ample stocks. Despite trade-restrictive measures for a portion of rice exports, volumes are set to remain robust,” the USDA said. Rebounding exports from India will partially offset declines from other major exporters Vietnam, Thailand, Pakistan and Myanmar. INQ