Philippines: Grain and Feed Annual
Implemented in January 2018, a Philippine tax reform program that cuts personal income taxes should increase disposable incomes and raise food and feed consumption in MY18/19 onwards. Wheat imports are expected to increase 550,000 tons to 5.75 million tons in MY 18/19, driven mainly by growing feed demand. Also on feed demand, MY 18/19 corn imports are expected to increase 200,000 tons to 700,000 tons. Rice imports are likely to decline 300,000 tons to 1 million tons due to increasing production and shifting dietary preferences towards wheat and protein.
