Philippines Relying on Vietnam for Rice Supply

From January to May, nearly 90% of the Philippines' total imported rice came from Vietnam, amounting to 1.5 million tonnes.

Vietnam - Biggest Rice Provider of Philippines
Vietnam remained the biggest rice provider of the Philippines in the first five months with turnover of $772.4 million. Photo: Bangkok Post

Vietnam continued to be the largest rice provider for the Philippines in the first five months, with a turnover of $772.4 million, representing a 31.1% increase compared to the previous year. This information was reported by the Asia-Africa Market Department under the Ministry of Industry and Trade, citing data from the Philippine Bureau of Statistics.

Vietnam - Biggest Rice Provider of Philippines
In the first five months, Vietnam exported 3.6 million tonnes of rice, with the Philippines accounting for 42.3% of the total. Photo: VNA

Besides, businesses should actively coordinate with relevant Government agencies, ministries, branches, and associations to promptly remove difficulties and obstacles arising in trade activities and participate in activities to promote exports to the Philippines.

Bangkok Post cited Thai Commerce Minister Jurin Laksanawisit as saying that Thailand’s rice exports are expected to exceed 8 million tonnes this year, fueled by increased global demand as countries scramble to stockpile in preparation for the impacts of the El Niño weather phenomenon.

Vietnam - Biggest Rice Provider of Philippines
The Philippines is expected to increase its rice purchases to 2-3 million tonnes. Photo: Bangkok Post

Iraq is projected to import approximately 1 million tonnes this year, similar to 2022, according to Jurin.

Last year Thailand shipped 7.69 million tonnes of rice, exceeding the ministry’s target of 7.5 million tonnes. For this year, the ministry aims to ship 7.5-8 million tonnes of rice.

The important agricultural crops with high prices are fragrant paddy, Pathum Thani fragrant paddy, white rice paddy, and glutinous paddy rice.

The Kasikorn Research Centre (KRC) predicted that the country’s total rice production this year will be between 32.7 and 33.2 million tonnes, including about 7.6 million tonnes from the second crop, which will be enough for domestic consumption and export. It also warned that the output may be lower if drought prolongs as a consequence of El Nino.

Rosy Huong