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Agriculture

Thai rice exports to Philippines set to double as Vietnam cuts back

Fresh demand to help boost Bangkok's annual trade in staple to 8.2 million tons

Drought in Cambodia is expected to reduce Vietnam's supply of rice, hindering its ability to export more of the staple to the Philippines.   © Reuters

BANGKOK -- Thailand's rice exports to the Philippines are expected to double this year, the Thai Rice Exporters Association said, as rival supplier Vietnam faces capacity constraints.

Philippine rice imports hit 3.7 million tons last year, making it the world's second-largest importer of the staple. The figure is likely to remain roughly the same in 2023. The country, which is battling inflation and various food shortfalls, is forecast to produce about 12.4 million tons, below the 15.8 million tons needed, according to the U.S. Department of Agriculture.

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