Philippines: Grain and Feed Annual

FAS Manila forecasts Market Year (MY) 2022/23 milled rice production will reach 12.4 million metric tons (MT), flat with the previous year’s near-record high. The Philippine government’s support programs will help rice farmers partially offset rising input costs. Rice imports are seen at 2.8 million MT, 200,000 MT lower than MY 2021/22. Post forecasts MY 2022/23 wheat imports declining 3 percent to 6.3 million MT, as the Ukraine conflict results in rising prices and supply challenges. Corn is expected to supplement some feed wheat demand, while milling wheat consumption is seen slightly declining for more affordable rice. Corn production in MY 2022/23 is forecast at 8.3 million MT, rebounding from the previous year’s lower level. Post forecasts MY 2022/23 corn imports at 750,000 MT, as feed wheat prices are elevated by the Ukraine conflict.