Philippines imports record-high 4.68M metric tons of rice in 2024

In 2024, the Philippines imported a record-high 4.68 million metric tons of rice, according to data from the Department of Agriculture's Bureau of Plant Industry.

The surge in imports was attributed to lower local production and reduced tariffs, which decreased smuggling incentives.

Despite increased imports, Assistant Secretary Arnel de Mesa stated that these were necessary to compensate for a domestic production shortfall, which fell from 20.06 million metric tons in 2023 to 19.3 million metric tons in 2024 due to El Niño and storms.

Looking ahead, the DA is optimistic about a rebound in local rice production this year, projecting it to reach around 20 million metric tons.

De Mesa underscored the prioritization of boosting local production with the amended Rice Tariffication Law, alongside support programs for local rice farmers, which include financial assistance and mechanization.

The current suggested retail price for 5 percent broken rice is estimated at P60 per kilogram, with potential decreases due to international market fluctuations.