Philippines has now become the world's leading rice importer

 

The latest Philippines import export data reports shows that the Philippines has emerged as the top rice importer in the world surpassing China. For the financial year 2023, the Philippines has imported over 3.9 million metric tons of rice. Whereas, China which was the top rice importer has made over 3.5 metric tonnes of rice. India was by far the top rice supplier to the Philippines. 

Philippines import data shows that India has exported over $518 million worth of rice to the Philippines despite the restrictions imposed. During February 2023, the maximum amount of rice imports from India were done. It is estimated to be around $483 million. Syngenta India was the leading rice supplier to the Philippines during FY 2023. Whereas Bayer Bioscience, Seedworks International and Amar Singh Chawalwala are prominent rice suppliers to the Philippines.

After India, Vietnam and Thailand were the biggest markets for rice exports to the Philippines. According to the Philippines customs data reports, Thailand had supplied over 300,000 tons of rice to the Philippines during 2023. Thailand's rice exports to the Philippines have almost doubled as compared to 2022.  

Thai Hua, Nanapan Agri Industrial and Everwell were the top rice exporting companies from Thailand responsible for over 34% market share. Whereas, Vietnam exported around 2.2 million tons of rice to the Philippines last year. 

Vietnam export data shows that the rice exports to the Philippines were nearly around 2 billion in 2023. Intimex Group, Thanh Tin Food and Eastern Food Company were the top rice export companies from Vietnam accounting for maximum shipments to the Philippines. 

The fastest growing markets for Philippines rice imports were China, Myanmar, Pakistan, Italy, Malaysia and Singapore. Bestow Industries, Nan Stu Agri Traders, Mutya Ricemill and Macman Rice & Corn Trading were among the leading rice import companies from the Philippines. 

On the other hand, Philippines rice exports were merely $10 million during the financial year 2023. According to the Philippines export data reports, the United States was the top importer of rice from the Philippines having over 37% share. Saudi Arabia was the second leading rice importer from the Philippines responsible for 8% share. Whereas, UAE, Guam, Canada, Qatar, Australia, Netherlands and the United Kingdom were other notable rice importers from the Philippines. 

During fiscal year 2023, Ngosiok Marketing was the top rice exporting company from the Philippines with over 40% share in the country's rice exports. Gem Foods International, Maximex Grains Trading and Nutri Asia are other major suppliers from the Philippines.

The Philippines government is likely to limit its reliance on rice imports. It is working on its agricultural sector to improve its yield. The government is making investments in its agricultural sector by providing quality seeds, implements, devising farmer centric schemes, etc. Also, the agribusiness owners from the Philippines can expand internationally with global import export data provider.

Philippines import export companies can acknowledge these reports to find demand for their product, pricing, quantity, importing markets, top importers, exporters and competitors. These help you build impactful marketing strategies and right business decisions. You can discover buyers for your products from over 200+ countries. Philippines companies can use a data driven approach to generate more ROI at minimal cost.