The Vietnam Trade Office in the Philippines said that the Philippines is a large rice consumer and one of the leading rice importing countries in the world. In recent years, the Philippines' annual rice imports have always been high, reaching a record of 3,82 million tons in 2022. In 2023, the country's total rice imports reached 3,6 million tons, a decrease of 5,9 million tons. .2022% compared to XNUMX.
In June 6, President Ferdinand R. Marcos Jr. signed Decree No. 2024 adjusting the import tax rate of many products, including rice, from 62% to 35% with an application period until 15. This is expected to help Rice prices on the market decrease by about 2028-6 pesos/kg, increasing the demand for domestic rice consumption.
According to statistics from the Department of Crops - Ministry of Agriculture of the Philippines, if in the first 6 months of 2023, the total amount of rice imported by the Philippines reached 1,86 million tons, then in the first 6 months of 2024, this number will be 2,32. .24,7 million tons, an increase of 2024%. This allows forecasting that the Philippines' total rice imports in 4 could reach over 4,5 million tons, even up to 4 million tons, higher than the previous forecast of about XNUMX million tons.
Also according to data from the Department of Crops, in the first 6 months of 2024, the Philippines imported 1,72 million tons of rice from Vietnam. Next is Thailand with a volume of 352.331 tons.
Information and data from the Vietnam Trade Office in the Philippines also shows that the Philippines' annual domestic rice consumption demand is from about 14,5 million to 15 million tons. The minimum reserve needed to ensure enough food for 30 days to ensure domestic food security in the Philippines is about over 1,2 million tons. Therefore, the total annual rice demand of the Philippines is about 15,5 to 17 million tons. Meanwhile, statistics from the Rice Association and the Philippine Department of Agriculture show that the Philippines' domestic rice production in 2022 will reach about 19,75 million tons, equivalent to about 12,74 million tons of rice. In 2023, the Philippines' domestic rice production will reach over 20 million tons (specifically 20,06 million tons) for the first time.
Domestic production does not meet demand, so the Philippines has to import about 3 million to 4 million tons of rice every year. Since 2019, when the Philippines issued and implemented Law No. 11203 allowing free import, export and trade of rice, removing quotas and rice import restrictions, Vietnam has surpassed Thailand to become a supplier. important rice, always holding the number 1 position in rice export to the Philippine market.
Mr. Phung Van Thanh - Commercial Counselor of the Vietnam Trade Office in the Philippine market said that Vietnamese rice has moderate quality, suitable for tastes, consumption habits and meets diverse needs. of Filipinos, from the large number of middle- and low-income populations to the wealthy classes, affordable prices should be competitive. Not only that, the supply of Vietnamese rice is stable in both quantity and price, able to meet the annual import demand of the Philippines. The geographical distance is close, so costs are low and transportation is convenient.
In addition, Vietnamese rice also takes advantage of bilateral and multilateral trade agreements that the two sides participate in, such as the ASEAN Trade in Goods Agreement (ATIGA); Regional Comprehensive Economic Partnership (RCEP)… while the Philippines' non-ASEAN partners (such as India, Pakistan) do not have one.
In order to export Vietnamese rice to the Philippine market sustainably, Mr. Phung Van Thanh recommends that domestic rice exporting enterprises, in addition to accessing exports to new markets, must always pay attention to maintaining their number 1 export position. Vietnam's rice exports to the Philippine market. Because currently, Thailand is also looking for ways to increase production and market share of rice exports to the Philippines and compete with Vietnamese rice.
On the other hand, Vietnamese rice exporters need to continue to coordinate well with the Ministry of Industry and Trade, the Embassy and the Vietnamese Trade Office in the Philippines to implement promotion, propaganda and promotion programs for rice products. of Vietnam. Continue to maintain and ensure stable rice quality, constantly improve the quality of exported rice products, thereby contributing to increasing the value of Vietnam's export turnover of rice products to the Philippine market.
Mr. Phung Van Thanh also noted that businesses need to diversify export rice products, not only focusing too much on high quality rice products to serve high-income earners, but also need to exploit the potential of rice. medium quality, lower quality rice to serve a large number of middle and low income people.
Source: Vietnam.vn
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<p>Time: 2024 By: Ministry of Industry and Trade</p>
