PH to import more wheat starting June
The Philippines will import more wheat from the US beginning June 1 due to increased food production and rising income and population, the US Department of Agriculture reported.
The USDA said wheat imports from the Philippines are projected at 4.3 million metric tons ending May 31 but are expected to recover to 4.8 MMT starting June 1.
The USDA Foreign Agricultural Service (FAS) in Manila attributed the drop in wheat imports to ample beginning stocks.
“Current expansion of the flour- milling industry, as well as the continued consolidation and modernization of the local hog and poultry industries, (is) expected to result in increased overall imports in MY 16/17,” the USDA report said.
According to the report, the demand for milling and feed-grade wheat will continue to grow as incomes rise and since there is no commercial production of wheat in the Philippines.
As for corn, the USDA does not see the Philippines importing more due to farmers’ vigorous use of cassava as substitute.
The Philippines was the third largest US wheat market in 2015, with sales reaching $522 million, said the USDA.