Philippines in Talks With Vietnam and India for Rice Imports

The Philippines Department of Agriculture has begun negotiations with Vietnam and India with the government expected to lower rice prices across the country. Philippines received lower export quotations from Vietnam and hopes to achieve the same with India. 

Domingo Panganiban, Department of Agriculture (DA) Senior Undersecretary, said Vietnamese exporters have quoted rice prices that are $30 – $40 lower to Filipino private traders. It will also work with the Government of India to allow export of rice to the country on humanitarian grounds. Panganiban says this will pave the way for the country to get better terms for the additional 300,000 to 500,000 metric tons rice importation for 2023. 

It will help lower prices and bolster Philippines’ national inventory, which even without importation is set to last 52 to 57 days. President Bongbong Marcos recently met with DA officials and traders at Malacanang to address issues on Philippines’ rice supply. He said the rice situation is manageable and stable. There’s enough rice for the Philippines up to and after the El Nino next year. To bolster Philippines’ rice stock, the government is keen to import 1.3 million metric tons, but the dates of import are yet to be set. 

Keep Reading

A farmers group in Nueva Ecija highlighted that retail prices of rice are going up despite being considered as “Rice Granary of Philippines”. Dan Alfaro, Bongabon East Farmers and Fisheries Service Cooperative chairman, said retail prices of rice ranged between P52 and P60 per kilo. He said the farmers have no control on the retail price of rice after they sell their harvest to traders. 

It should be noted that the Philippines is one of the world’s biggest rice producers, but it buys from major suppliers like Thailand and Vietnam to help fill production gaps caused by typhoons.

Tags: Rice Imports
Jasmine C.

Mabuhay! An upcoming Newswriter for the Asian Affairs from the Pearl of the Orient - Philippines. Avid follower of celebrity gossips, fashion news. I got into writing so that my fellow Kababayan will be constantly updated with the latest news.

Recent Posts

Shooting concludes: Stranger Things 5 to release on Netflix in 2025

Created by the Duffer Brothers, Stranger Things is one of the most popular sci-fi horror series globally. It is set…

December 21, 2024

China’s Hypersonic Expansion in Asia Raises Alarms for India

According to the US Department of Defense, China has now produced the most sophisticated supply of hypersonic weapons in the…

December 21, 2024

Melaka International Halal Festival 2024

The Melaka International Halal Festival 2024 aims to turn the city as the prime center of the Halal products and…

December 21, 2024

Chunichi Dragons Renews the Contract of Hiroto Takahashi with Annual Salary of 120 million yen

On Saturday, the stalwart of Chunichi Dragons Pitcher, Hiroto Takahashi attended the negotiation for his contract renewal for the next…

December 21, 2024

Biden-Harris administration cancels another $4.28 billion in US student loans

US President Joe Biden has cancelled another $4.28 billion in student loans for nearly 55,000 people across the country, the…

December 20, 2024

The Colorful SCTV 2024 Carnival: Programs, Date, Venue & Timing

Music, dance, celebration and mesmerizing stage performances before the fans who are at the peak of their enjoyment, is the…

December 20, 2024

This website uses cookies.

Read More