January 23, 2008

Philippines foresees 8.5-percent corn production growth in 2008

The Philippines estimates its corn production this year to hit 7.37 million tonnes, growing by 8.5 percent over 6.79 million tonnes in 2006.

Increased acreage for corn has been cited as the primary factors boosting this year's production, according to agriculture secretary Dennis Araullo.

The agriculture department identified new areas such as Sultan Kudarat and Maguindanao for corn planting.

Araullo expects corn farms to expand by 75,000 hectares in 2008.

Currently, Philippine corn prices hover around PHP12 (US$0.29) to PHP12.50 US$0.30) per kilogramme against imported crops at PHP15 (US$36) to PHP16 (US$39 per) kg.