Philippines to Receive Significant Rice Imports Amidst Supply Stabilization Efforts

MANILA – The Philippines is set to receive approximately 76,000 metric tons of rice from Taiwan and India in the coming weeks, as part of efforts to stabilize the country’s rice supply. This development was confirmed by the Department of Agriculture (DA) Undersecretary and officer-in-charge for operations Roger Navarro on Wednesday.

According to Philippines News Agency, nearly half a million metric tons of rice are expected to be imported by the private sector from December through early February. This move is in line with an agreement reached between Agriculture Secretary Francisco Tiu Laurel Jr. and holders of rice import permits. Navarro reported that about 100,000 tons of imported rice have already arrived in the country, contributing to the 495,000 metric tons committed by import permit holders.

Navarro also mentioned that 20,000 bags or 1,000 metric tons of rice, the first batch of a donation from Taiwan, were delivered before Christmas Day. Additionally, around 75,000 metric tons of rice are anticipated to arrive from India between the last week of December and early January. This import follows India’s decision to lift its ban on non-basmati white rice exports, initially imposed last July to manage domestic supply and prices. In October, India authorized the export of over 1 million metric tons to seven countries, with the Philippines receiving over 28 percent of this allocation.

The importation of rice is part of a broader strategy to ensure sufficient supply of the staple food in the Philippines, especially in light of the impending El Niño weather phenomenon. Navarro highlighted that with the recent harvests and the upcoming imports, the country is expected to have an adequate rice supply until the next harvesting season, which begins in March.

The rice supply is a critical aspect of the nation’s economy, with national consumption averaging around 36,000 metric tons per day. Economic authorities, including the Bangko Sentral ng Pilipinas (BSP), are monitoring the situation closely due to its significant impact on inflation. The BSP has been actively implementing measures, such as raising interest rates, to mitigate inflation and its effects on consumer purchasing power and overall economic growth.