August 31, 2012
Philippines eyes corn exports
The Philippines may possibly export corn as early as this year to take advantage of the high corn prices caused by the drought in the United States.
Edilberto de Luna, assistant secretary of the Department of Agriculture said an interagency committee composed of industry stakeholders and concerned agriculture bureaus is preparing a recommendation to the National Food Authority (NFA) council. The applicable export volume for possible exportation would still be determined.
For 2012, the government expects to attain a corn sufficiency level of 98 % with a deficit of 179,000 tonnes.
For 2013, the government intends to raise corn yield to 8.4 million tonnes. By next year, the government aims to attain a sufficiency level of 101% with a surplus of 149,000 tonnes.
De Luna said they were advised by Agriculture Secretary Proceso Alcala not to wait anymore for a surplus in production, adding that exporting a small volume will be ideal to test the market.
