PHL seen to import in 2023 record-high 3.9MMT rice | Raadee S. Sausa

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PHL seen to import in 2023 record-high 3.9MMT rice | Raadee S. Sausa
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Philippine rice imports are expected to rise to a record-high of 3.9 million metric tons (MMT) this year, the US Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said, upgrading its previous forecast of 3.7 million MT. Know more:

In File Photo: The National Food Authority stores its buffer rice stock consisting of imports and paddy it purchased from farmers in its warehouses.PHILIPPINE rice imports are expected to rise to a record-high of 3.9 million metric tons this year, the US Department of Agriculture’s Foreign Agricultural Service said, upgrading its previous forecast of 3.7 million MT.

Earlier, the Bureau of Plant Industry data showed that the Philippines’s rice imports breached the million-metric-ton mark as of early May. Vietnam, the Philippines’ leading source of rice imports, supplied 1.2 million MT or almost 90 percent of the total. Myanmar came second with 70,165 MT.The most favored nation tariff rate for rice remains at 35 percent for both in-quota and out-quota imports until end-December this year.

Thailand exported 183,230 MT of rice to the Philippines last year while India shipped 10,094 MT, based on BPI data.

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