November 26, 2007

 

Philippines exceeds production target for yellow corn

 

 

The Philippines has developed 139,000 hectares for yellow corn for the first nine months this year thus exceeding the target of 64,000 hectares for 2007, according to the Department of Agriculture.

 

Agriculture Assistant Secretary Dennis B. Araullo in a statement said the growth is attributed to the farmers' interest on yellow corn farming.

 

Corn currently commands good prices at farm gate level as the government has also assured the farmers of support for expansion.

 

Rosallie Ellasus, president of Philippine Corn Federation, Inc., (PhilCorn) said thousands of corn farmers and millions of others are dependent on corn farming for their livelihood.

 

Ellasus said that sustained profits are encouraging corn farms to plant more in the next cropping season this March.

 

PhilCorn is the first organized national federation representing the corn industry. Its 4,000 members include producers, suppliers, operators and mid-processors nationwide.

 

Based on Arroyo's Corn Program monitoring, yellow corn at farm gate level is now traded at an average of P13 (US$0.30) per kilo. Yellow corn prices never went below P9 since January. The white corn farm gate price hovers anywhere between P10 and P12 per kilo.

 

Araullo said a corn farmer tilling three hectares now earns at least P50,000 per hectare on a single cropping.

 

He said the strong corn price in the local market is mainly due to the high demand and price abroad. There is also an increasing demand for corn as a biofuel feedstock with its low production in other parts of the world.

 

With government interventions ranging from hybrid subsidies and post-harvest facilities, there are possibilities that yellow and white corn harvest for the entire year would surpass DA's target of 6.92 million, against the 6.08 million of 2006.

 

US$1 = P42.885 as of November 25