Philippines increases imports of rice and corn according to USDA report, agriculture output down 3.3% in Q1

The Philippines is reported to be producing less rice and corn, two of its main staples, leading to increased importation.

In its latest report, USDA’s Foreign Agricultural Service (FAS) adjusted downward for the second time the Philippines’ rice imports and production. The Philippines is expected to import 2.1 million Metric Tons (MT) of the crop up from its initial forecast of 2 million.

As for milled rice production, the Philippines is expected to produce 12.3 million MT during the marketing year for 2021/2022, lower than its previous forecast of 12.4 million MT.

For corn, the Philippines is also expected to only produce 8 million MT of corn down from its previous forecast of 8.3 million MT for the current marketing year.

The FAS cited the spread of African Swine Fever as a key driver of the trend.

The FAS’s updated forecast came a few days after the Philippine Statistics Authority (PSA) reported that the Philippines’ crop production, which shared 58.8% of total agricultural production, went up by 3.3% from January to March of this year. Rice and corn production also increased by 8.6% and 6.5%, respectively, and the value of crop production amounted to ₱267.0 billion at current prices, up 7.2%, during the first quarter of this year.

Overall, the Philippines’ agricultural output fell by 3.3% in the first three months of 2021. A 1.7% drop was recorded during the same period last year.

SOURCE: Manila Bulletin