The USDA Economic Research Service said that Philippines is projected to remain the world’s largest importer of the staple in 2024, adding taht the rate of increase in local prices of the commodity has reached a 14-year high last month.

Philippines is expected to increase rice importation as it faces the adverse effects of the El Niño phenomenon this year.

The USDA-ERS report indicated taht Philippines’ current estimated import will be 3.8 million metric tons (MT) of rice this year.

This has been previously confirmed by the Bureau of Plant Industry when it revealed that 3.22 million MT of rice reached the Phlippines from January 1 to December 22, 2023.

“The Philippines is projected to remain the number one global rice importer - taking a record 3.8 million tons - in 2024, followed by China, Indonesia, the European Union, Nigeria and Iraq,” the US agency said,.

So far, the Philippines importation this year has reached 56,909.63 MT as of January 11. Most of the importations come from Vietnam which is also the country’s largest source of rice imports.

As gathered fromt he USDA report, the Philippines, which has a projected 112 million population project, will continue to overtake China which is expected to import 2.8 million MT of rice this year.

China has a population of 1.4 billion.