August 8, 2007

 

Feed millers in Philippines undecided on duty-free corn imports
 

 

Philippine feed millers are still undecided on whether to import additional corn this year due to projected lower output caused by a drought, an industry executive said Wednesday (Aug 8).

 

"We're not prepared to make a decision at this point, individual feed millers are still assessing whether there's a need to import given global high prices," the executive said, adding that they would take up the issue in another meeting scheduled later this month.

 

Early this year, the agriculture department issued an import authority allowing local feed millers, as well as poultry and livestock raisers to bring in 200,000 tonnes of corn at zero duty in the second half of the year. The tariff on corn is currently pegged at 35 percent.

 

Industry officials met Tuesday to discuss the issue following a downward revision made by the agriculture department on the country's projected corn output for the year.

 

Corn production this year is projected to reach a lower range of 6.5-6.7 million tonnes from an earlier forecast of 6.9 million tonnes due to ill-effects of the drought.