RICE CONSUMPTION AND PRODUCTION IS GROWING IN THE PHILIPPINES – ANALYTICAL REPORT

 Rice is one of the most crucial and important crops grown in the Philippines for the purpose of consumption and trading. According to the latest statistics, the Philippines is the 8^th biggest rice-producing nation in the world and contributes a 3% share of the total global rice produced annually.

 

Rice is a food item that is consumed daily by the people of the Philippines. Due to this fact, rice production is very high in the Philippines which is adequate to satisfy an individual’s needs as well as sufficient for trading purposes also.

 

There is one peculiar thing about the Philippines in relation to rice, i.e., on one hand, this nation is one of the largest producers of rice in the world, and on the other hand, it is the largest importer of rice in the world too which makes the things a bit complicated to understand. To make this point clear, we would like to add that although the Philippines is the biggest rice producer in the world, still the production is not able to meet the demand of the Philippians. Hence, the nation is the largest rice importer too.

 

Trading rice to and from the Philippines contributes significantly to the Philippines Trade Data every year and provides extra mileage to stay up and growing.

 

RICE IMPORTS AND EXPORTS OF THE PHILIPPINES (2018-2022)

Below mentioned is a statistical table that represents how much rice worth dollars was imported and exported to and from the Philippines in the last few years. This will help you to understand the rice trade statistics clearly. The values are derived from reliable Philippines Import Data and Philippines Export Data sources to keep things accurate and authentic.

 

RICE IMPORTS AND EXPORTS TO AND FROM THE PHILIPPINES (2018-2022)
YEAR	RICE IMPORTS	RICE EXPORTS	REMARKS
2018	USD 736.64 million	USD 470 thousand	NATION FOCUSES MORE ON IMPORTS THAN EXPORTS
2019	USD 1 billion	USD 543 thousand
2020	USD 862.01 million	USD 557 thousand
2021	USD 1.19 billion	USD 608 thousand
2022	USD 1.27 billion	USD 1.09 million

 

 

This table completely clears our doubts about the trade statistics of the Philippines with respect to rice as the nation clearly focuses on importing rice rather than exporting. As per the Philippines Trade Data report for the year 2021, the Philippines was the 2^nd major importer of rice from the world, and on the other hand, it was the 83^rd largest exporter of rice.

 

Top partners according to the Philippines Import Data from whom the Philippines Imported rice in the year 2022 were Vietnam, Thailand, Myanmar, Pakistan, and India. Similarly, the top countries to whom the Philippines exported rice as per the Philippines Export Data 2022 were Bangladesh, the UAE, Qatar, Saudi Arabia, and Jordan.

 

IMPORTS OF RICE ARE GROWING IN THE PHILIPPINES

 

At present, the demand for rice is growing every day in the Philippines. Despite rising production in the nation, the demand is not getting fully satisfied. As a result, the Philippines is importing rice in tons. For instance, in the month of November 2022, the country imported 3.37 million metric tons of rice which was more than the last year’s imports in the same month by 34.14%.

 

It is estimated that in the year 2023, this value would rise more and set new records. The major import partners for the year 2023 could be Chia, Japan, India, Singapore, and Thailand.

 

The Philippines Import Data would experience more dominance in the coming years because of rice imports as the demand is increasing at a constant pace but the domestic production of rice is not rising at that speed. There are multiple reasons behind this problem such as growing population, reduction of farmlands, climate changes, and poor irrigation and drainage systems.

 

FINAL VERDICT

 

In the end, we just want to state that the Philippines needs much more time to become self-reliant by itself as the problems are big. The country has no better option than importing rice from other countries and fulfilling the demands of its citizens. It is recommended that the country should focus on acquiring new and better technologies, labor force, and input materials to grow its domestic production.

 

BONUS TIP FOR OUR READERS

 

We are grateful that you are reading this blog till this point. As a token of thanks, we would like to mention that if you are a trader or marketer looking for the most reliable source for getting the Import Export Data for any nation, contact Tradeimex today and get the most accurate and reliable database at affordable prices. We deliver databases for over 70 countries with precise details.

 

Source URL: https://medium.com/@tradeimex11/rice-consumption-and-production-is-growing-in-the-philippines-analytical-report-fcdae864f5bd