Vietnam remains biggest rice provider of Philippines
Vietnam remained the biggest rice provider of the Philippines in the first five months of this year with turnover of 772.4 USD million, surging 31.1% year-on-year.
Vietnam remains the biggest rice provider of the Philippines. (Photo: VNA)
Hanoi (VNA) - Vietnam remained thebiggest rice provider of the Philippines in the first five months of ꧙this yearwith turnover of 772.4 USD mi🔯llion, surging 31.1% year-on-year.
During January-May, the Philippines imported 1.5million tonnes of rice from Vietnam, accounting for nearly 90% of its totalimported rice, according to the Asia-Africa Market Department under theMinistry of Industry and Trade, citing data from the Philippine Bureau ofStatistics. This was also the record level of Vietnam's riceexports to the Philippines so far. In the first five months, Vietnam exported 3.6 milliontonnes of rice, with the Philippines accounting for 42.3% of the total. In the last six months of the year, rice exports tothe Philippines are forecast to continue to increase due to the impact ofclimate change and El Nino phenomenon that could severely affect domesticfood production in the country of 113 million people. According to the department, for the remaining monthsof 2023 and 2024, it is expected that the Philippines' rice consumptionand import demand will continue to increase. Therefore, to take advantage ofthe opportunity to increase exports to this market, businesses need to closelyfollow market developments and policies on rice trade. Besides, businesses should actively coordinate withrelevant Government agencies, ministries, branches and associations to promptlyremove difficulties and obstacles arising in trade activities and participatein activities to promote exports to the Philippines./.
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Vietnam will develop and diversify rice export markets with a reasonable, stable, and effective scale, market and product structure under a strategy recently approved by the Prime Minister.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
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The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
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The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
Vietnam remains the biggest rice provider of the Philippines. (Photo: VNA) 
