PH may need not increase rice imports
IMPROVING harvests despite dry conditions brought by El Niño might mean that the full-year inflow of imported milled rice will not increase in 2024, according to the latest estimates of the US Department of Agriculture (USDA).
In a report, the USDA’s Foreign Agricultural Service cut its rice import forecast for the Philippines to 3.9 million metric tons (MT) from its previous projection of 4.1 million MT— made last March — due to a “larger crop.”
The lowered forecast settles at the same level as the Philippine rice imports in 2023. Over the past four years, Philippine rice imports have increased steadily from 2.45 million MT in 2020.
In its report released this month, the American agency raised its forecast for Philippine milled rice output for this year to 12.6 million MT from its March forecast of 12.3 million MT.
Read more: https://www.panaynews.net/ph-may-need-not-increase-rice-imports/
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