W44 2024
As of late Oct-24, the Philippines imported 3.68 mmt of rice, marking a significant increase compared to the same period in 2023 when imports stood at 2.84 mmt. According to data from the Rice Import Licensing Authority, this year’s figure exceeds the 2023 rice import volume of 3.61 mmt. Vietnam remains the Philippines' top rice supplier, with imports from Vietnam totaling 2.91 mmt, which accounts for over 79% of the Philippines' total rice imports in 2024. Thailand ranks second with 457,673.28 mt, representing 12.4% of imports, followed by Pakistan with 162,369.48 mt, Myanmar with 114,766.75 mt, and India with 22,039.04 mt. The Philippines' rice imports in Oct-24 alone reached 380,541.58 mt, more than double the 163,217.40 mt imported in Oct-23. This surge suggests that the Philippines may surpass 4 million tons of total rice imports for 2024, with projections reaching as high as 4.5 mmt by year-end.
