Philippines rice imports nearing 600,000 metric tons

Rice imports in the Philippines are approaching 600,000 metric tons, with 579,055.81 metric tons reported as of March 6. Most shipments, 76 percent, came from Vietnam, followed by Pakistan and Thailand. The Philippine Statistics Authority estimates palay production will reach 4.72 million metric tons from January to March, a slight increase from last year. However, the harvest area is expected to decrease by 2.3 percent. Research firm BMI predicts domestic rice production will drop by 2.6 percent in the 2024/2025 cycle due to unfavorable weather. Imports are projected to account for 30 percent of domestic production, up from 17 percent five years ago.