Philippines: Paddy Rice Market 2024

Paddy Rice Market Size in the Philippines

The Philippine paddy rice market fell to $X in 2021, dropping by -2.5% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Paddy Rice Production in the Philippines

In value terms, paddy rice production contracted slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 35% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

In 2021, the average paddy rice yield in the Philippines fell slightly to X tons per ha, flattening at the previous year. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 3.5%. Over the period under review, the average paddy rice yield hit record highs at X tons per ha in 2020, and then shrank modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the paddy rice harvested area in the Philippines reduced to X ha, remaining constant against the year before. Overall, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 5.6%. As a result, the harvested area attained the peak level of X ha. From 2018 to 2021, the growth of the paddy rice harvested area remained at a lower figure.

Paddy Rice Exports

Exports from the Philippines

In 2021, exports of paddy rice from the Philippines dropped to X tons, which is down by -6% on the year before. Over the period under review, exports faced a abrupt downturn. The pace of growth appeared the most rapid in 2013 with an increase of 914% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, paddy rice exports shrank sharply to $X in 2021. In general, exports recorded a precipitous slump. The most prominent rate of growth was recorded in 2013 with an increase of 396% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Pakistan (X tons) was the main destination for paddy rice exports from the Philippines, accounting for a 54% share of total exports. Moreover, paddy rice exports to Pakistan exceeded the volume sent to the second major destination, Myanmar (X tons), twofold. Bangladesh (X tons) ranked third in terms of total exports with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Pakistan stood at -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+1.7% per year) and Bangladesh (-19.5% per year).

In value terms, Pakistan ($X) remains the key foreign market for paddy rice exports from the Philippines, comprising 79% of total exports. The second position in the ranking was held by Bangladesh ($X), with an 8.8% share of total exports. It was followed by Myanmar, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value to Pakistan amounted to -11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-28.9% per year) and Myanmar (-9.8% per year).

Export Prices by Country

In 2021, the average paddy rice export price amounted to $X per ton, falling by -22.4% against the previous year. In general, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2019 when the average export price increased by 42%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Pakistan ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+137.4%), while the prices for the other major destinations experienced a decline.

Paddy Rice Imports

Imports into the Philippines

For the fifth year in a row, the Philippines recorded growth in purchases abroad of paddy rice, which increased by 69% to X tons in 2021. In general, imports showed a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 177% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, paddy rice imports rose rapidly to $X in 2021. Over the period under review, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 131% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

China (X tons), India (X tons) and Vietnam (X tons) were the main suppliers of paddy rice imports to the Philippines, together comprising 100% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +53.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest paddy rice suppliers to the Philippines were India ($X), China ($X) and Vietnam ($X), with a combined 100% share of total imports.

In terms of the main suppliers, China, with a CAGR of +25.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average paddy rice import price stood at $X per ton in 2021, which is down by -36.6% against the previous year. In general, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 4.3%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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