October 6, 2008

 

Philippines approves 15 percent hike in government support price for corn 

 

 

The Philippine Department of Agriculture has approved a 15 percent increase in government support price for corn in a bid to boost farmers’ incomes.

 

The Philippine Department of Agriculture said it has approved a 15-percent increase in the government's support price for yellow corn to PHP11.50 a kilogram, in a bid to boost farmers' incomes amid rising input costs.

 

The department also said it was studying the possibility of increasing the support price further to PHP13/kg to make it on par with the government's support price for white corn.

 

The department's programme director for corn, Dennis Araullo said in a statement that they’\'re endorsing the proposal to further increase the yellow corn support price in response to the clamor of corn growers, many of whom have shifted to other crops for higher profits.

 

He said increasing the support price is expected to lead to an increase in the country's production of the yellow grain, which in turn would benefit the local livestock sector.

 

The Philippines cultivates both white corn, which is used for human consumption, and yellow corn, which is a major component in animal feeds.
   

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