Thailand was the second largest rice exporter, with about 8.2 million metric tons of. Just keep an eye on that,” Dominguez told Customs Commissioner Rey Leonardo Guerrero.ĭominguez, a former agriculture chief, cited India as a possible source of affordable rice imports. India had the highest export volume of rice worldwide, at 21.5 million metric tons as of 2022/2023. “I think there will be a shift in the imports of Thai and Vietnamese rice, and Burmese (Myanmar) rice, to rice from other countries where the value is much lower. On Monday, June 7, the Department of Finance said in a statement that the EO would enable the Philippines to diversify rice sources while maintaining stable supply at affordable prices. “Non-ASEAN countries, including India and Pakistan, have more competitive prices and the reduced tariffs would result in lower landed prices,” USDA said.īut USDA also noted that non-ASEAN countries in Asia must work on consumer awareness and build business relationships in the Philippines to get a significant share of the market. Rice imports from Vietnam are seen to be lower at 6.3 million MT, due to increased competition with other countries such as India. “However, since 2019, Vietnam has become the primary rice supplier to the Philippines due to its lower prices.” “Traditionally, ASEAN (Association of Southeast Asian Nations) members Vietnam and Thailand have been the most prominent exporters given the proximity, established trade relationships, and ability of these countries to provide government-to-government agreements during the period of quantitative restrictions,” USDA added. “The Philippines is expected to be the second largest importer in 2021, and recently announced a change to its import tariffs that have the potential to shift its suppliers,” USDA said. 135, which lowered the MFN tariff to 35% on imported rice. In May, President Rodrigo Duterte issued Executive Order (EO) No. For the Philippines, USDA also attributed the increased import figures to the reduced Most Favored Nation tariff rate.
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