June 26, 2026
 

Bounty Fresh backs Philippines' proposed corn MAV hike to 500,000 tonnes as inflation hits 6.4%

The poultry major's CEO says cheaper feed is critical to containing food price pressures, and called for MAV allocations to be directed toward companies that actually produce chicken.

Bounty Fresh Group Holdings Inc. Chief Executive Officer Kenneth Cheng has backed the Department of Agriculture's proposal to increase the Philippines' corn import minimum access volume (MAV) to 500,000 metric tonnes from the current 216,940 metric tonnes, saying cheaper feed is essential to managing rising food costs.

"I am happy that we increased it because we need to review consumption. And this year, where our inflation is going up, we really need to make our food cheaper," Cheng said at a briefing in Taguig City on 25 June. Philippine monetary authorities have raised their average inflation forecast for 2026 to 6.4%, well above the 2-4% target range, with the 2027 forecast at around 4.5%.

Cheng also called for MAV allocations to be directed specifically toward companies that produce chicken, saying this would deliver the most direct benefit to the poultry sector and help protect food supply. He said failure to support the sector adequately would affect overall food availability.
 

- Philippine News Agency