Philippines: Grain and Feed Update
Link to report:
The dual crises of the COVID-19 pandemic and African Swine Fever have impacted the Philippine hog and chicken sectors, traditionally the strongest performers in the agricultural economy. Post lowers MY2020/2021 wheat imports to 6.85 million MT, two percent below the current forecast, due to reduced hog demand for feed wheat and slower growth in the milling sector. Corn imports in MY2020/2021 are also lowered to 375,000 MT from the current forecast of 600,000 MT, reflecting reduced demand from broilers. Meanwhile, rice production during the same period is raised over six percent on account of a projected strong first quarter of the marketing year. Rice imports on the other hand are lowered to 2.6 million MT, 13 percent below the current forecast of 3.0 million MT. Domestic production is expected to meet a larger share of consumption, while higher Vietnamese prices will likely result in less rice from the Philippines' largest supplier.
