Corn to be imported duty free in Philippines
The Philippines has largely been buying wheat as a
substitute for corn for animal feed in recent years as local harvests of corn
are not enough to satisfy domestic demand.
Poultry and livestock farmers conferred with agriculture officials on their
plans to import up to 400,000 mt of yellow corn, with half of the volume
arriving around June or July.
Officials of the Department
, corn farmers, feed millers, poultry and
livestock firms reached a consensus to endorse the duty-free import of an initial
200,000 tons for June/July arrival.
Under the plan, state trading firm National Food Authority
would buy the corn on behalf of
local firms by charging them 50 centavos (1 US cent) for every kilo of corn
bought, the sources said. Funds collected will be used for the development of
the local corn industry.
All parties also reached a consensus to endorse the approval of standby
authority to local feed mills and poultry and livestock firms to import an
additional 200,000 mt of corn without tariff for arrival in December.
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