Feed millers move to import more feedwheat as cheaper alternative to corn
Local feed millers decided to import more feedwheat as a cheaper alternative to corn, a move that is seen to drive the prices of poultry and livestock products.
Roger Navarro, president of Philmaize Federation Inc. (PFI), said in reports that there is rising feedwheat importation, which normally happens when there is shortage of corn in the domestic market.
To be specific, local feed millers are now looking at importing some 2.6 million metric tons (MT) of feedwheat this year to replace corn, which is significantly higher than the traditional feedwheat import range of 1.5 to 2 million MT.
Navarro also blamed the unfavorable weather condition to the drop in corn production, stressing that the glut in supply will hit the livestock and poultry sectors starting this July.
“Worst case scenario, the (livestock and poultry) industries will not have their corn this quarter because production has been delayed, while many farmers also did not plant corn this season,” Navarro said.
Navarro also revealed that local feed millers and livestock sectors have been importing corn from Indonesia this summer to augment the expected shortage of supply this third quarter.