Rice imports amounted to 2 million tons at the end of May

THE PHILIPPINES imported 2.09 million tons of rice at the end of May, up 30.6%, according to the Bureau of Plant Industry (BPI).

The BPI reported that rice shipments rose 28% to 411,689 tonnes in May.

The BPI said Vietnam remained the top rice supplier at the end of May, accounting for 72.7% of all imports in the year to date, or 1.52 million tonnes.

In January, the Philippines and Vietnam signed an agreement that gives the Philippines a quota of 1.5 to 2 million tons of rice per year for five years.

Thailand supplied 319,740.74 tonnes, or 15.3% of the total, during the period, followed by Pakistan with 147,169 tonnes, or 7%.

The top five is completed by Myanmar and India, which shipped 65,600 tons and 21,169 tons of rice respectively.

Imports supply about 20% of the Philippine demand for rice.

The Agriculture Ministry expects production of palay, or unmilled rice, to reach 20.44 million tons this year, up from 20.06 million tons last year.

The U.S. Department of Agriculture expects Philippine rice imports of 3.9 million tons this year, lowering the initial estimate of 4.1 million tons. — Adrian H. Halili