January 14, 2008

Philippine feed industry still keen on importing corn
 

The Philippine feedmilling industry is still keen on importing corn to supplement local supply despite high prices in the global market, an industry executive said on Monday (January 14, 2008).

"Global prices aren't so attractive at this point, but we would like to keep this option," said Norman Ramos, president of the Philippine Association of Feedmillers Inc.

In 2007, the government allowed the local feedmilling industry to import 400,000 tonnes of corn at zero-tariff.

However, the industry was able to import only around 130,000 tonnes because of high import prices.

The industry is set to discuss with agriculture officials next week the possibility of availing the remaining volume this year, Ramos said.

"It's hard to give a timetable as to when we will need the imports. We will have to find out the forecast of output for the year vis-a-vis the estimated requirement," he said.

Corn output may have risen to 6.9 million tonnes last year, up 13 percent from a year earlier, as high prices encouraged farmers to increase planting.

Production this year is expected to rise to 7.4 million tonnes, Agriculture Assistant Secretary Dennis Araullo earlier said.

Corn is a major component for livestock and poultry feeds.