Rice Imports Hit Record $420m in 2024

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The country’s rice import bill soared to a record $420 million in 2024, an 18% jump from the previous year, driven by rising demand and heavy reliance on overseas supply.

Data from the Ministry of Agriculture, compiled by the Ministry of Finance, shows imports climbed sharply over the past two years. In 2023, 54.99 million kg of rice valued at $368.37 million was imported. Last year, that rose nearly 20% to 65.04 million kg worth $420.91 million.

Vietnam, Taiwan, and China remain the top sources. The Ministry of Agriculture attributes the increase to population growth, dietary changes, and the country’s continued dependence on imports.

Officials warn that this growing reliance exposes the economy to external price shocks and strains foreign exchange reserves, which could hurt trade balances.

The ministry of health has already flagged a health dimension to the trend. Eye and diabetes specialist Dr. John Hue earlier told SBMOnline: “Diabetes goes where rice goes”—noting the disease’s spread even into remote rural areas.

Government Response
To reduce exposure to global market volatility and strengthen food security, the ministry is looking to diversify staples, boost local output, and improve import efficiency.

Permanent Secretary Dr. Samson Viulu said field trials are underway to test fully mechanized commercial rice farming, a departure from the labor-intensive methods of the past.

“We hope to generate field data before deciding whether to adopt large-scale mechanized farming or maintain the current approach and pursue other strategies,” he said.

For now, rice remains the dominant staple for the majority of the population—and a growing cost to the nation.