November 02, 2024 | 11:44 (GMT+7)
Vietnam still dominates Philippine rice import
Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tons shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
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A farmer during rice harvest season in the Southern province of Can Tho |
The Rice Import Licensing Authority of the Philippine Department of Agriculture reported that the country imported a total of 3.68 million tons of rice as of the late October, significantly higher than the same period last year and already surpassing the total rice imports for the entire year of 2023, as estimated by the authority.
Given this growth trajectory, it is projected that the Philippines' total rice imports for 2024 will exceed 4 million tons, potentially reaching up to 4.5 million tons.
To secure the sustainability of Vietnam's rice exports to the Philippines, the Vietnam Trade Office advised domestic exporters to prioritize stable rice quality while continually improving their products. This strategic focus will not only boost export value but also mitigate price competition among companies.
Source: VNA