Philippines increasingly dependent on corn imports

The Philippines will rely more on corn imports in 2024/25, as lower domestic production and higher demand from livestock contribute to imports. USDA forecasts corn imports at 1.5 million tons in 2024/25 after a record 1.52 million tons in 2023/24.

Lower global corn exports and a modest recovery in production are holding back growth, USDA adds.

Despite increased use of corn in poultry and livestock feed, corn production in the Philippines has not kept pace with growing demand. In recent years, producers have been hampered by pest infestations, typhoons and land shortages. As a result, increased imports have been required to meet domestic demand, reaching 16% of total supply in 2023/24, up from 4% in 2019/20.

The Philippine government reduced tariffs on corn imports, and due to the tariff reduction, total imports increased by 56% in 2022/23 and 68% in 2023/24. Most of the corn has come from ASEAN countries, but this trend is changing, with non-ASEAN countries such as Brazil and Argentina taking an increasing share of imports.

For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.

It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.

You are welcome to get a 7-day free demo access!!!

Tags: corn, Philippines