USDA: Filipinos’ rice consumption expected to rise anew
BY CHINO S. LEYCO
Filipinos are projected to up their rice intake this year, solidifying the country’s rank as the sixth-largest consumer of this grain worldwide, the latest report from the United States Department of Agriculture (USDA) indicated.
According to the USDA’s Grain: World Markets and Trade report, it is projected that Filipinos will consume a record 16.5 million metric tons of rice in 2024, a three percent increase from the 16 million metric tons consumed in 2023.
This translates to an average of 151.3 kilos of rice per Filipino annually.
With higher consumption, the USDA has revised its estimates for the Philippines’ rice imports. The latest projection now stands at 3.9 million metric tons this year, surpassing the previous estimate of 3.8 million metric tons.
The Philippines remains the world’s top importer of rice, accounting for 25.7 percent of the global import requirements in 2024.
The country is also expected to continue to surpass China, the world’s second most populous nation, in rice imports, with its expected import of only 2.3 million metric tons.
“Global consumption is up with more imports for Indonesia and the Philippines,” the USDA said.
The USDA has also projected that the country’s rice output may decrease to 12.5 million metric tons this year from 12.625 million metric tons last year due to dry weather, or El Niño.
During President Marcos Jr.’s recent state visit to Hanoi, the Philippines and Vietnam signed a memorandum of understanding (MOU) on Rice Trade Cooperation.
Under the MOU, Vietnam has committed to supplying the Philippine private sector with 1.5 million to two million metric tons of white rice annually at competitive and affordable prices for the next five years.https://mb.com.ph/2024/2/9/usda-filipinos-rice-consumption-expected-to-rise-anew
Published Date: February 10, 2024