Philippines has now surpassed China as the world’s leading rice importer, according to United States Department of Agriculture (USDA).
In its latest “Grain: World Markets and Trade” report, the USDA projected the country’s rice imports to reach 3.8 million metric tons in the marketing year 2023-2024.
China’s imports are projected to decrease to 3.5 million metric tons.
The report also stated that the Philippines is delaying its rice imports this year due to soaring prices caused by export bans of India and Vietnam.
Thailand and Vietnam are the primary sources of rice imports for the Philippines in 2023.