“Bhumitham” orders the Department of Foreign Trade Philippine Commercial Attache Moving forward to expand the Thai rice market Behind this year’s trend The Philippines has a high import demand of 4.1 million tonnes of rice.

“Bhumidham” orders the Department of Foreign Trade Philippine Commercial Attache Moving forward to expand the Thai rice market Behind this year’s trend The Philippines has a high import demand of 4.1 million tonnes of rice.

April 14, 2024 at 9:00 a.m.
Mr. Phumtham Wechayachai, Deputy Prime Minister and Minister of Commerce, revealed that as assigned to the Department of International Trade Promotion and Director of the Office of Overseas Trade Promotion or commercial ambassadors stationed in countries around the world, exploring trade opportunities for Thai entrepreneurs Recently received a report from the Philippine commercial ambassador. Regarding the opportunity to export Thai rice for sale. After the Philippines has an increased demand for rice imports in 2024 due to a decrease in domestic production. causing the production to be insufficient to meet demand

The commercial attaché has confirmed that the Foreign Agricultural Service in the Philippines under the United States Department of Agriculture (USDA) has stated that in 2024, the Philippines will import more rice than previously forecast. Because of the shortage of products in the country It will remain the largest rice buyer in the world market. The Philippines is expected to import 4.1 million tonnes of rice this year, up 200,000 tonnes or 5.1 percent from the previous estimate of 3.9 million tonnes in February 2024, due to less local paddy production. and if it is according to the said prediction This will cause the Philippines’ rice imports to increase by nearly 14 percent from 3.6 million tons in 2023, and it will be the world’s largest rice importer. Followed by Indonesia, China and the European Union.

In addition, the United States Department of Agriculture It has also lowered its estimate for Philippine rice production this year to 12.3 million tons from the previous estimate of 12.5 million tons, which is contrary to the trend of the global rice production situation increasing to 515.4 million tons as it is expected that rice cultivation will increase. Large plant from India

At the same time, it was also reported that The Philippines is a market where rice is a staple food. Its average consumption is approximately 16 million tons per year, but domestic production is approximately 12 million tons, causing the need to import more than 3 million tons. It is also a country at risk of food security. The Philippines also faces natural disasters. both earthquakes Volcanic eruptions, typhoons, technology shortages Agricultural labor shortage and most recently affected by El Niño causing rice production to decrease The Philippine government therefore has to come up with various measures to ensure there is enough rice for consumption. and estimates that up to 4.1 million tons must be imported

“Currently, the Philippines is one of Thailand’s important rice markets. In 2023, there were imports from Thailand of 342,000 tons, a proportion of 9.46%, imports from Vietnam ranked number 1 with a volume of 2.97 million tons, a proportion of 82.23%, and imports from Myanmar 1.56. 100,000 tons, proportion 4.33%, ordered by the Department of Foreign Trade and commercial ambassador in the Philippines Move forward with selling Thai rice to the Philippines. Because the price of Thai rice is at a competitive level. But the quality is better. and was assigned to accelerate the development of rice varieties to have variety Especially the soft ground rice that the Philippines needs. This will allow Thai rice to regain market share,” Mr. Phumtham said.