December 2, 2010

Philippines to import more soy from US

The unrelenting growth of the Philippine feed milling industry and higher meat and poultry consumption may prompt the US to export more soy to the country, according to the Philippine Association of Feed Millers (PAFMill).

PAFMill said that US-based AG Processors is enlarging its export facilities in the Port of Grays Harbor in Aberdeen, Washington, to cater to the increasing requirements of soy in Pacific Rim countries including the Philippines.

AG Processors is one of the largest farmer cooperatives in the US and the Philippines' leading soy supplier.

In 2009, the Philippines imported 1.5 million tonnes of soymeal from the US.

This year, industry insiders see total imports of soymeal amounting to 1.6 million tonnes due to higher feed demand from the pork and poultry sector.

Soymeal is the product left after removing most of the oil from soy.

Meanwhile, the Philippine feed milling industry produced 7.5 million tonnes of feeds in 2009, or 7% more as compared with the seven million tonnes of feeds produced in 2008.

Government data showed that the hog raising industry accounted for 65% of the country's feed requirements, followed by the poultry sector at 25%, and the fishery and other animal sectors at 10%.

AG Processors will lead a 15-man delegation of American soy farmers and traders to the Philippines this week to meet local feed millers, hog raisers, and poultry operators.