Philippines’ rice imports drop by 35% in first two months of 2025

PHILIPPINES – The Philippines’ rice imports plunged by nearly 35% in the first two months of 2025, totaling approximately 504,726 metric tons (MT), down from 770,846 MT recorded in the same period last year, according to the Bureau of Plant Industry (BPI).

According to industry experts, the sharp decline is attributed to high carry-over stocks, fluctuating global rice prices, and government measures to boost local production.

One of the key factors is the record-high rice imports in 2024, when private entities brought in 4.8 million MT, creating a substantial surplus and reducing the immediate need for new imports in early 2025.

Additionally, importers have been hesitant to purchase new shipments due to the sharp decline in Vietnamese rice prices. Vietnam, the Philippines’ largest rice supplier, accounted for 73% of the total rice imports in January and February 2025, delivering 370,908 MT.

However, some importers canceled their contracts in February after Vietnam’s rice prices fell due to its forthcoming harvest and India’s return to the global rice market.

Pakistan (60,788 MT) and Thailand (53,722 MT) were the second- and third-largest suppliers, while smaller quantities came from Myanmar (11,315 MT), India (5,991 MT), and South Korea (2,000 MT).

Another contributing factor is the Philippines’ efforts to strengthen its domestic rice production. The government has launched initiatives such as distributing high-quality seeds and improving irrigation systems to support local farmers.

Furthermore, Executive Order 62 (EO 62), which temporarily reduced rice import tariffs from 35% to 15% until 2028, has incentivized local production investment while making imports more strategically planned rather than impulsive.

The drop in rice imports is also reflected in the number of sanitary and phytosanitary import clearances (SPSICs) issued by the BPI.

From January to February, the approved SPSICs covered an import volume of 722,200 MT, a stark contrast to the 2.8 million MT recorded in the same period in 2024. An SPSIC is a mandatory clearance certifying that imported rice meets safety standards and does not pose health risks.

Despite lower import volumes, rice prices in the Philippines have remained high. In response, the Department of Agriculture declared a food security emergency in February 2025 to release government-held buffer stocks and stabilize domestic rice prices.

The government’s move aims to mitigate inflationary pressures on staple food items, especially as the country faces unpredictable climate conditions that may affect domestic production.

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