India is boosting rice exports to the Philippines, intending to increase its market share. Not only this, a delegation of Indian exporters will visit the Philippines in this month to analyse the potential for rice, including vegetables, groundnut, and meat exports. No doubt, the Philippines is a significant market for India in agricultural products exports.
The Philippines: World’s largest importer of rice in 2024
The Philippines, the world’s largest importer of the commodity, has imported agricultural products worth around USD 20 billion. The key imports included semi-milled rice, wheat and meslin, oilcake, food preparations, and palm oil.
Interestingly, India exported agricultural products worth USD 413 million to the Philippines in 2024, accounting for nearly 2% of the Philippines’ total agricultural imports. Notably, India’s significant exports to the Philippines were bovine meat, groundnut, rice, and tobacco. Apparently, the Philippines is the world’s largest importer of rice, with imports in 2024 reaching USD 2.52 billion. An official stated that there is a significant opportunity to boost India’s rice exports in the Philippines, as, despite India being the world’s largest rice exporter, worth USD 11.83 billion in 2024-25. India’s rice exports were only USD 48.91 million to the Philippines in the same period,” the official said. Adding that this shows a significant opportunity for India in the Philippine rice market.
A delegation to visit the Philippines in early September
Furthermore, “the commerce ministry official said: “To build on this potential, a delegation of leading exporters of rice and other key potential exports to the Philippines, including vegetables, groundnut, and meat, will visit the Philippines in early this month. Contrary to this, a delegation of the Philippines’ food importers will participate in World Food India from September 25-28, which is India’s largest food trade fair, and the Bharat International Rice Conference (BIRC) on October 30-31, 2025, which will be the world’s biggest rice conference.