April 14, 2004

 

 

Philippines Urges Corn Farmers To Plant More

 

The Philippine Department of Agriculture is urging corn farmers to take advantage of current high prices in the local market by increasing their harvest areas.

 

By planting more corn, farmers will generate more income as corn prices are likely to remain at high levels for the next two years, Secretary Luis Lorenzo said Wednesday in a statement.

 

Lorenzo said increased demand for corn as well as a shortage in world production are working to boost corn prices.

 

"This is an opportunity that farmers should take advantage of," Lorenzo said.

 

Bullish corn prices are attributed mainly to tight supply as strong typhoons that hit the country in July and August last year devastated many corn plantations.

 

High prices of corn and wheat in the world market further boosted local prices. Corn and wheat are major ingredients in animal feed.

 

At the start of the year, local corn prices rose to as high as 12 pesos ($1=PHP55.80) a kilogram from PHP6-PHP6.50/kg a year ago.

 

Current prices range between PHP9.50 and PHP10/kg following harvests in some areas of the country.

 

Artemio Salazar, the agriculture department's program director for corn, said demand for corn in the local feed milling and livestock industries peaks in the October to December period.

 

To meet the expected increase in demand, farmers should increase the number of hectares planted to corn.

 

"Since the crop will be prone to corn borer attacks, it is advisable for farmers to use the Bt corn which has an internal defense against this pest," Salazar said.

 

Corn output for the year is expected to reach a record high 5.5 million- 5.7 million metric tons.