Philippines: Grain and Feed Annual
On February 14, 2019, President Rodrigo Duterte signed Republic Act (RA) No. 11203, converting quantitative restrictions on rice imports into tariffs. The corresponding implementing guidelines are expected soon, although the law’s effects likely will be more apparent in two to three years. In MY 19/20, no significant changes to grain imports are expected due to ample inventories from the previous year. Wheat imports surged to seven million tons in MY 18/19 as local grain production declined, and increased food and feed milling capacity entered commercial production. During the same period, corn imports declined 24,000 tons to 700,000 tons due to strong feed-wheat imports, while rice imports increased by a million tons to 2.3 million tons to contain rising inflation ahead of the Philippine midterm elections in May 2019.
