Rice consumption on the rise: Philippines overtakes China as the world’s largest importer

The United States Department of Agriculture sees a slight decline in the Philippines rice production to 12.6 million tons this year from 12.63 million tons in 2022.

In its Grains Report for September, the USDA estimates rice consumption in the Philippines to increase to 16.4 million tons from up from last year’s 16 million tons, placing the import requirements at 3.8 million tons.

The Philippines rice import requirements is the highest in the world, after China’s import requirements were lowered to 3.5 million tons from 4 million tons.

China is the biggest producer of rice at 149 million tons, followed by India at 134 million tons.

In terms of rice production, the Philippines ranks 7th, behind Bangladesh, Indonesia, Vietnam, and Thailand.

In terms of exports, India is the biggest exporter at 19 million tons this year, followed by Thailand at 7.5 million tons, and Vietnam at 7.3 million tons.

The USDA forecasts global rice production lower for 2023/2024 because of smaller crops in India, Bangladesh, Burma and Thailand.

Global consumption is also expected to decrease because of reductions for Bangladesh and Vietnam.

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