The country's rice imports sustained its downward trend in the first half after it declined by 11 percent to 1.26 million metric tons (MMT) from 1.417 MMT recorded last year, latest Bureau of Plant Industry (BPI) data showed.

BPI data obtained and analyzed by the BusinessMirror showed that the volume of rice imports during the six-month period was 157,000 MT lower than the previous year's volume.

The country's rice imports this year have been lower than last year due to a confluence of events that included higher world rice prices, global logistical problems, and better domestic harvest.

The United Nations' Food and Agriculture Organization (FAO) noted that rice trade in Asian markets "remained quiet" in June as "logistical bottlenecks and high shipping costs continued to discourage fresh sales."

In terms of sanitary and phytosanitary import clearance (SPS-IC) issuance, the BPI issued 2,553 SPS-ICs from January to June, which was about 35 percent lower than the 3,926 SPS-ICs issued in the same period of last year.

BPI data also showed that the total applied volume for rice imports by eligible entities was 18.89 percent lower this year on an annual basis.

Based on the SPS-ICs issued, eligible rice imports applied to import 2.645 MMT from January to June, which was 616,000 MT lower than what they wanted to bring in in the same period of last year at 3.621 MMT.

BPI data showed that in June alone, the agency issued 784 SPS-ICs corresponding to an applied import volume of 707,742 MT, which was 384.63 percent higher than the 146,083.8 MT (177 SPS-ICs) applied import volume in the same month of last year.

Based on the BPI list, Elite Impex Distributor Inc. led all 121 eligible rice importers in terms of applied volume to import at 167,680 MT, followed by Anvit Hridhaan Trading Inc. at 128,738 MT.

In terms of actual rice import arrival, Nan Stu Agri Traders topped the list at 61,402 MT followed by Davao Solar Best Corp. at 55,936 MT, BPI data showed.

BPI data also showed that the country's total rice imports as of July 2 has reached 1.27 MMT, with 88.66 percent, or about 1.126 MMT of which coming from Vietnam.

Rice imports from Pakistan reached 2,638 MT while those from India reached 109.36 MT, based on BPI data. These two South Asian countries, particularly India, are projected to benefit from the lowering of the country's most favored
nation (MFN) rates on rice imports from 40 percent (in-quota) and 50 percent (out-quota) to 35 percent.

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