The Philippines. Rice imports hit 2.44 MMT in late July

THE PHILIPPINES imported 2.44 million metric tons (MMT) of rice by late July, according to the Bureau of Plant Industry (BPI).

The BPI reported that rice shipments for the month as of July 25 totaled 101,013.48 MT, less than the 156,981.75 MT recorded a year earlier.

The government lowered the tariffs on imported rice to 15% from 35%, until 2028 through Executive Order No. 62. The order took effect last month.

The Department of Agriculture is expecting rice imports to pick up in the coming months, citing the approved volumes in import permits issued by the BPI.

For July, the BPI issued 686 sanitary and phytosanitary import certificates with approved applicants seeking to import 557,815 MT.

As of late July, the permits issued amounted to 5,133 with applicants seeking to ship in 5.62 MMT.

The BPI reported that Vietnam remained the top supplier of rice as of late July, accounting for 75% of all imports in the year to date, or 1.83 MMT.

Thailand supplied 358,727.74 MT during the period, or 14.7% of the total, followed by Pakistan with 154,523 MT, or 6.3%.

It added that Myanmar and India shipped 66,640 MT and 21,605 MT of rice, respectively.

The US Department of Agriculture projects Philippine rice imports to hit 4.7 MMT this year, upgrading its initial 4.6 MMT estimate due to the higher-than-expected volumes during the first semester.

Imports as of the first half amounted to 2.33 MMT, up 25.3% from a year earlier.

Tags: Philippines, rice