October 10, 2008

 

 

Agriculture Assistant Secretary Dennis Araullo said, Thursday 9 October Korea has given the go ahead for Philippine corn farmers to export their produce.

 

Araullo told reporters at the sidelines of the annual Agri Link Trade Show at World Trade Center that Korea and even Taiwan has approved the quality of Philippine corn.

 

He said Korea Overseas Grains Investment Co. Ltd. informed National Agribusiness Corp., an attached corporation of the Agriculture Department, that Philippine corn passed the quality of the Korean quarantine agency.

 

The development further boosted the private corn sector's bid to export an initial 10,000 tonnes next month at an agreed price of PHP 16 per kilogramme.

 

South Korea has an annual corn import demand of 300,000 tonnes, which it plans to buy from the Philippines.

 

Araullo said if the price is attractive, more farmers will export and plant more corn. It is also likely that farmers will start planting by early November to December due to export negotiations.

 

He said early increased production would be reflected in next year's inventory.

 

Local corn farmers have turned to exports due to low prices and lack of assistance from the government.

 

Philippine Maize Federation president, Roger Navarro said his group would pursue a petition to further increase the government buying price for corn to PHP 13 per kg.

 

The National Food Authority board last week approved a PHP 1.50 hike in the buying or support price for corn to PHP11.50 from PHP10 a kilo in August. The support price for corn stood at PHP7.50 prior to the adjustment.

 

The board said it was considering an increase in the support price for yellow corn to PHP13.

 

The Bureau of Agricultural Statistics said corn output for the second semester would likely be around 3.2 million tonnes. Corn output year-on-year stood at 3.98 million tonnes.

 

Araullo also said production interventions measure that will help the government realize its target output for the year will be conducted.