The Philippines will curtail corn imports this year as foreign corn becomes more expensive, local media reported Tuesday.
The import volume "may not even reach half of the 2007 volume" which stood at 131,800 metric tons, online edition of national newspaper Manila Bulletin said.
The report said local corn's price hovers at around 13 pesos (0.32 U.S. dollars) per kilo while imported corn is expected to be sold at 15 pesos (0.37 U.S. dollars) per kilo at domestic market.
The paper said cutback in corn importation might lead to a slower livestock supply growth as corn is used as a key feedstock in raising animals.
Philippine Association of Feed Millers records show that feed production in the country rose to 8.5 million metric tons in 2007.However, it is not certain if the growth will sustain this year, the paper warned.
As the world's top rice importer for 2008, the Philippines is suffering a serious blow in the global food price hike which has aggravated for a month or so due to concerns of low stockpile and restrictions to food export imposed by the world's major rice producers.
Imports of wheat and flour, an alternative to rice, are also becoming more expensive due to global supply shortages.
Source:Xinhua
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