Vietnam represents stable rice supplier to the Philippines

Philstar quoted statistics compiled by the Hanoi-based Ministry of Agriculture and Rural Development as saying between January and September, the Philippines imported a total of 2.47 million tonnes of rice from Vietnam, worth in excess of US$1.14 billion.

The Philippine market thereby accounted for 43.9% of the total Vietnamese export of grain during this period, up 35.3% in volume and 22.2% in value compared to the same period last year.

The newspaper stressed that total rice imports from Vietnam throughout the first nine months of the year have already exceeded the full-year total of 2.4 million tonnes recorded in 2021.

Explaining about why the Philippines continues to import rice from Vietnam, according to Philstar, Vietnamese rice producers have a stable output of white long-grain varieties, including jasmine and OM rice, both of which fully cater to the tastes of Filipino consumers, while the costs remain relatively low.

Furthermore, the delivery capacity and costs similarly meet the Philippines' demands due to the short distance between the two countries.

Philstar also revealed that Myanmar, behind Vietnam, makes up the next largest source of rice for the Philippines, shipping around 204,000 tonnes between January and September.