Worried about the impact of El Nino, the Philippines wants to buy rice from India to increase national reserves

The Philippine president is considering importing more rice from India to boost national reserves against the impacts of extreme weather.

Philippines muốn mua gạo từ Ấn Độ để tăng dự trữ quốc gia

The Philippines is one of the world's largest rice importers. (Photo: CT)

Philippine President Ferdinand Marcos Jr. said the country must increase its rice reserves and he may seek a supply deal with India and other suppliers, amid concerns about the potential impact of El Nino, which has caused dry weather to reduce domestic harvests.

President Marcos, who is also the Philippine Agriculture Minister, expressed concern about the global rice supply situation as the impact of El Nino spreads, even affecting the whole of Southeast Asia.

The Philippines, one of the world's biggest rice importers, has traditionally bought rice mainly from neighboring Vietnam, but Mr. Marcos said supplies from Vietnam could become limited as other countries also step up imports.

Last week, India banned exports of non-basmati white rice — its biggest export — to bring down domestic prices after heavy rains damaged crops. But it has left the door open for government-to-government deals, saying it would consider meeting requests from countries that need rice.

India accounts for more than 40% of the world's rice exports, and low stocks in the country and other exporters mean a cut in exports could push up world food prices due to the Russia-Ukraine crisis and erratic weather.

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