The Philippines will remain the world's largest rice importer in 2024

The Philippines is expected to import a record 3.8 million metric tons of rice this year, analysts say. This is reported by the USDA Economic Research Service, indicating that the Philippines is ahead of major importers such as China, Indonesia, the European Union, Nigeria and Iraq in terms of rice purchases. Despite a slight decline in global rice trade to 52.2 million metric tons from last year's 52.4 million metric tons, the Philippines is likely to increase its rice imports, banking on lower prices expected this year, US analysts said. At the same time, countries such as Brazil, Egypt, Ghana, Indonesia, Kenya, Mozambique, North Korea, Singapore, Tanzania, Togo and Vietnam will buy less rice, and, conversely, Asian countries including China, South Korea, Malaysia and the Philippines will increase purchases of rice, the USDA report says. Increased demand for rice is expected in countries that include Afghanistan, Angola, Bangladesh, Democratic Republic of Congo, Cuba, Ethiopia, ...