April 17, 2008

Philippine feedmillers may not import corn this year

The Philippine feedmilling industry may be self-sufficient in corn this year on an expected increase in local output and a drop in the animal population, an industry official said Wednesday.

Feedmillers are not likely to import corn this year as local production is likely to meet domestic demand, said Ric Pinca, a consultant and former vice president of Philippine Association of Feed Millers Inc.

The country's corn output in 2008 is projected to reach 7.3 million tonnes, up 7 percent from a year earlier.

Pinca said the corn harvest is good, while the demand is slowing because of the lower animal population.

The hog industry, in particular, has been hit by various diseases, he said.

Philippine feedmillers are also not keen on importing corn due to high global prices.

The landed cost of imported corn is estimated at around PHP15 (US$0.36) a kilogramme, while local corn is traded around PHP13.20/kg (US$0.32), he said.