Philippines eyes India, Thailand rice to cut Vietnam reliance
The Philippines, the world’s top rice importer, plans to diversify its rice sources beyond Vietnam to ensure stable supply and prices. Agriculture Secretary Francisco Tiu Laurel said talks are ongoing with importers and producers from India, Pakistan, Cambodia, and Myanmar. He noted Vietnam is reliable, but its 90% share in imports poses risks during supply shocks.
The Philippines, the world’s top rice importer, plans to look beyond its dominant supplier, Vietnam, to ensure steady supplies and competitive prices at home.
The agriculture department is in talks with private importers on purchases from producers like India, Pakistan, Cambodia and Myanmar, Agriculture Secretary Francisco Tiu Laurel said in an interview on Friday. There may also be a “deal” with Indonesia and Thailand, he added.
“We are trying to diversify sources to keep a level playing field,” Laurel said. Vietnam is “the most reliable” supplier, but the fact that its shipments account for 90 per cent of the Philippines’ rice imports could be a “problem” in case of supply shocks, he said.
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Source : The Hindu Business line
