Vietnam accounts for 87 percent of Philippines’ rice imports

Illustrative image (Photo: nongnghiep.vn)

Hanoi (VNA) – Vietnam's rice exports to the Philippines still won a lion share of 87 percent in the first half of this year.

According to the Bureau of Plant Industry of the Philippines, the country had imported 1.26 million tonnes of rice during the period, down 11 percent from 2020, including 1.12 million tonnes from Vietnam.

It attributed the decrease to rising world rice prices, global logistics issues and improved domestic output.

The Philippines also bought over 2,600 tonnes of rice from Pakistan and more than 109 tonnes from India on the back of the Most Favoured Nation (MFN) tariff rates on rice dropping to 35 percent from 40 percent for in-quota purchases and 50 percent for out-quota volume.

The General Department of Vietnam Customs reported that in the first seven months of this year, Vietnam shipped over 1.27 million tonnes of rice worth 665.72 million USD to the Philippines, accounting for 35.3 percent of the country's total rice exports and 36.4 percent of its revenue.

The Philippines remained the largest rice importer of Vietnam in the reviewed period./.