August 3, 2007

 

Feed millers in Philippines to decide on corn imports
 

 

The Philippine feed milling industry will decide early next week whether it will import corn as a drought has led to forecasts of lower corn output this year, an industry official said Friday (Aug 3).

 

"The industry will have a meeting next week where we will determine whether corn imports are in order," said Normal Ramos, president of the Philippine Association of Feed Millers, Inc.

 

Early this week, the agriculture department said corn production this year could be between 6.5 million to 6.7 million tonnes due to a prevailing drought.

 

The department's original production forecast was 6.9 million tonnes.

 

Another official at the feed milling industry said it is unlikely the group will decide to import corn due to strong global prices, which means "costlier imports for the industry".

 

The domestic feed milling industry is authorised to import up to 200,000 tonnes of corn at zero-tariff in the second half of the year.