Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports.

The Rice Import Licensing Authority of the Philippine Department of Agriculture reported that the country imported a total of 3.68 million tonnes of rice as of the late October, significantly higher than the same period last year and already surpassing the total rice imports for the entire year of 2023, as estimated by the authority.

Given this growth trajectory, it is projected that the Philippines' total rice imports for 2024 will exceed 4 million tonnes, potentially reaching up to 4.5 million tonnes.

To secure the sustainability of Vietnam's rice exports to the Philippines, the Vietnam Trade Office advised domestic exporters to prioritise stable rice quality while continually improving their products. This strategic focus will not only boost export value but also mitigate price competition among companies.

Source: Vietnamnet
 

• Viet Nam’s trade surplus with EU expands amid economic headwinds
• Steel, cement and electricity firms to trade emissions quotas under Viet Nam's carbon market
• VCCI proposes 11 recommendations to quantify support for SMEs
• Trump’s copper tariff decision hangs over global metal market
• Global capital sees potential in Europe but calls for lighter regulation