Grains, Feeds and Fodders

The Philippines maintains a Tariff Rate Quota (TRQ) for corn (H.S. 1005). Following the reduction of tariffs in 2022 and their extension in 2023, significant interest in how to access the in-quota tariff ensued, and in turn, so followed widespread concern among local stakeholders for the process being anti-competitive, outdated, and potentially inconsistent with the Philippines' commitments with trading partners.

Rice export prices increased 2-3 percent due to the strengthening of the Thai baht which offset the downward pressure on domestic rice prices.

Due to continued elevated agricultural input costs, Mexico’s corn production in marketing year (MY) 2023/24 is forecast at 27.4 million metric tons (MMT), unchanged from the year prior. Lower than expected planting intentions data accounts for slightly lower rice and wheat production forecasts.

Private exporters reported sales of 136,000 metric tons of corn for delivery to China during the 2022/2023 marketing year. ### The U.S. Department of Agriculture is required by law to publicly release summary sales data obtained from U.S. exporters...

Private exporters reported sales of 112,800 MT of corn for delivery to unknown destinations during MY 2022/2023.

Private exporters reported sales of 204,000 MT of corn for delivery to China during MY 2022/2023.