Philippines: Grain and Feed Annual
Wheat imports are forecast to reach 3.95 million tons in MY14/15 (up 13 percent from the previous year) and to slightly over 4 million tons in MY15/16 due to strong demand as a result of shifting diets of the expanding Philippine middle class. Post estimates corn production will reach a record of nearly 8 million tons in MY14/15 (up 6 percent from the previous year) and approximately 8.3 million tons in MY15/16 due to expanded planting of biotech seed varieties and the Philippine government’s (GPH) continued investment in postharvest infrastructure. Despite a series of devastating typhoons in CY2014, rice production is expected to increase modestly in MY14/15 and again in MY15/16, enhanced by the GPH’s budget spending on agricultural infrastructure and drive for self-sufficiency. Post forecasts rice imports in MY15/16 down 18 percent from the previous year to roughly 1.3 million tons (inclusive of an estimated 500,000 tons of undocumented imports) due to the anticipated significant carryover stocks from MY14/15 and steady growth in production.
