India Eyes Expansion in Philippine Rice Market Amid Untapped Potential

India is strategically targeting an expansion of its rice exports to the Philippines, the globe's largest rice importer, amid untapped potential in the market. A high-level delegation of top Indian exporters is set to visit the Southeast Asian country next month, aiming to capitalize on this opportunity, a commerce ministry official revealed.

The Philippines holds a crucial position in India's strategy for agricultural exports. In 2024, the nation imported USD 20 billion worth of agricultural goods, with India accounting for USD 413 million of this, equivalent to about 2% of the total import share. Major Indian exports included bovine meat, groundnut, rice, and tobacco.

Apart from expanding rice exports, India is also eyeing broader opportunities within the Philippine market, including products like vegetables, groundnut, and meat. The forthcoming World Food India and International Rice Conference are expected to facilitate further engagement and partnerships. Meanwhile, the CIS region continues to show robust growth as an export destination for Indian food products.

(With inputs from agencies.)