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Global Grain & Oilseed Markets
  • China: More imported steak and less foreign corn
  • Policies that favour expensive corn and cheap pork are changing the type of agribusiness inputs that China chooses to import. Although the demand dynamics of China's vast agribusiness market have grown as expected, the feed-to-meat supply chain components appear to be developing in a different manner than was forecast.
  • Philippines: Feed crop self-sufficiency, for the worst of all reasons
  • Skyrocketing Philippine meat imports are symptomatic of a profoundly damaging feed grain import policy: Farmers stay poor and feed mills stay idle while non-productive middlemen enjoy excess profits. Superficially, the Philippines is the only large Southeast Asian country where domestic feed grain supplies and demand are in rough balance. Unfortunately, this was accomplished not through any miraculous policies but via meat import's devastating impact on feed demand.
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