Philippines: Grain and Feed Update

FAS Manila expects rice imports to decline to 3.5 million MT as high prices in the international market and price ceilings ordered by the President disincentivize imports. Rice production is also expected to decline to 12.55 million MT because of the combined effects of typhoons Dodong, Egay, and Falcon. FAS Manila estimates corn imports will increase to 1 million MT for MY 2023/24 because of a domestic production shortfall. Corn production is expected to decline to 8.2 million MT because of recent typhoons and the continued presence of fall armyworm. There are no changes to the wheat imports forecast for MY 2023/24.