Vietnam remains the biggest rice provider of the Philippines. (Photo: VNA) Hanoi (VNA) - Vietnam remained thebiggest rice provider of the Philippines in the first five months of this yearwith turnover of 772.4 USD million, surging 31.1% year-on-year.
During January-May, the Philippines imported 1.5million tonnes of rice from Vietnam, accounting for nearly 90% of its totalimported rice, according to the Asia-Africa Market Department under theMinistry of Industry and Trade, citing data from the Philippine Bureau ofStatistics.
This was also the record level of Vietnam's riceexports to the Philippines so far.
In the first five months, Vietnam exported 3.6 milliontonnes of rice, with the Philippines accounting for 42.3% of the total.
In the last six months of the year, rice exports tothe Philippines are forecast to continue to increase due to the impact ofclimate change and El Nino phenomenon that could severely affect domesticfood production in the country of 113 million people.
According to the department, for the remaining monthsof 2023 and 2024, it is expected that the Philippines' rice consumptionand import demand will continue to increase. Therefore, to take advantage ofthe opportunity to increase exports to this market, businesses need to closelyfollow market developments and policies on rice trade.
Besides, businesses should actively coordinate withrelevant Government agencies, ministries, branches and associations to promptlyremove difficulties and obstacles arising in trade activities and participatein activities to promote exports to the Philippines./.
