Philippines: Grain and Feed Update
Post concurs with the official USDA estimates for wheat. Corn production and area harvested were pared down in MY14/15 and MY15/16 to reflect the effects of prolonged dryness bought about by the El Nino weather disturbance. MY15/16 feed corn demand was slightly reduced due to some shifting to feedwheat while no significant change is expected for food corn demand. As a result, corn imports are likely to decline from 580 thousand tons in MY14/15 to 500 thousand tons in MY15/16. For rice, area harvested was slightly pared down in MY14/15, while output raised based on the latest official estimates. MY15/16 rice output is likely to decline to 18.7 million tons paddy from 18.9 million tons the previous year due to the El Nino dry spell and as a result, rice imports are forecast to reach 2.0 million tons from 1.7 million tons in MY14/15.
