April 2, 2004

Philippine NFA Buys 10,000 MT Corn

The Philippine National Food Authority bought 10,000 metric tons of corn from trading house Toepfer at $186.80 per metric ton, cost and freight basis, in a tender held Friday.
 
The import is intended for May arrival at Subic port, said NFA deputy administrator Gregorio Tan. The import will be of omnibus origin, although an agent for Toepfer said the corn is likely to come from China or India.
 
The corn was bought by the NFA on behalf of the poultry, livestock and feed milling industries to fill in a domestic shortfall.
 
Corn is a major ingredient in animal feeds. Imports to Philippine face a tariff of 35% to 50%.