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MANILA, Philippines – The country’s rice imports hit an all-time high in the first semester as traders scrambled to stockpile amid soaring farm input costs and the anticipated El Niño phenomenon later this year.
The Philippines imported 2.75 million metric tons (MT) in the first six months, up 20.1 percent from 2.29 million MT in the same period a year ago, data from the Bureau of Plant Industry showed.
READ: DA stops imports of high-grade rice
The latest figure marked the highest level of rice import arrivals since 2019. This was the year when the Rice Tariffication Law was enacted, liberalizing rice trading.
