Philippines: Grain and Feed Annual
Wheat imports are forecast to decline to 4.3 million tons in market year (MY) 15/16 (down 16 percent from the previous year) due to ample stocks, but will rebound to around 4.8 million tons in MY 16/17 due to an expanding population, continued economic growth, and low prices. Post estimates corn production will decline to 7.5 million tons in MY 15/16 (down 2 percent from the previous year) due to weather extremes but will reach approximately 7.9 million tons in MY 16/17 on the expected return to more ‘normal’ weather. Corn imports are predicted to remain flat in MY 16/17 compared to the previous year due to competitive prices. Like corn, rice production is expected to decline modestly in MY 15/16, but recover and increase in MY 16/17. Post forecasts rice imports in MY 16/17 down 25 percent from the previous year to roughly 1.5 million to due to steady growth in production and anticipated significant carryover stocks from MY 15/16.
