Philippines: Grain and Feed Update
Link to report:
FAS Manila maintains MY 2022/23 milled rice production at 11.975 million MT, as previously stated conditions such as diminished fertilizer application still hold. FAS Manila estimates rice imports at 3.8 million MT in response to recent trade data. FAS Manila estimates wheat imports at 5.8 million MT because of high prices and industry contacts’ observations that consumers have limited purchasing power. FAS Manila maintains MY 2022/23 corn production at 7.9 million MT because of conditions similar to rice, namely diminished fertilizer application. FAS expects corn imports to reach 1 million MT because of the extension of lower tariffs through 2023 and competitive price quotes for orders going forward, especially from ASEAN member states. FAS Manila also estimates MY 2022/23 sorghum imports at 30,000 MT based on stable demand.