Philippines: Grain and Feed Annual

FAS Manila forecasts MY 2023/24 milled rice production will rebound to 12.55 million MT because of increased government funding to the sector, which is expected to increase fertilizer application. FAS Manila forecasts rice imports flat at 3.6 million MT because of increased local production. FAS Manila forecasts wheat imports unchanged at 5.8 million MT. FAS Manila forecasts corn production at 8.4 million MT, also because of increased government funding to the sector. FAS forecasts corn imports to reach 800,00 MT because of the extension of lower tariffs through December 31, 2023, via Executive Order No. 10, Series of 2022. FAS Manila forecasts sorghum imports at 30,000 MT based on stable demand.