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Corn production is expected to reach 13.3 million tons in 2019/20, as Government incentives to expand production in non-traditional regions continue to yield results.
On February 14, 2019, President Rodrigo Duterte signed Republic Act (RA) No. 11203, converting quantitative restrictions on rice imports into tariffs.
Post expects MY 2019/20 corn imports to reach 4.15 million metric tons (MT), up 4 percent from the previous year, due to steadily growing demand for poultry feed.
Demand for feed ingredients in Japan remains strong in MY2018/19 as livestock inventories have seen little change.
MY2019/20 rice and corn production is forecast to increase to record levels due to expanded acreage driven by attractive prices.
China’s food regulatory regime continues to evolve. In 2017, China issued numerous new regulations and measures to reflect the requirements introduced under the 2015 Food Safety Law.