News last update:6 Aug 2012

Philippine feed millers buy Chinese wheat

Philippine feed millers bought 33,000 tonnes of Chinese feed wheat from Bunge Ltd., the world's largest oilseeds processor, a trader who participated in the tender said.

The Import Group, which comprises the nation's smaller millers, bought the grain for $222.50 a tonne, including freight costs, for delivery in June, a trader told Bloomberg. The trader declined to be named because the tender was confidential.

The Import Group postponed its planned purchase of feed wheat last month due to high prices offered by traders.

Philippine imports of wheat and yellow corn may rise by more than a third this year to 1.81 million tonnes as demand for animal feed outpaces production, Livestock Development Council Director Pedro Ocampo said in January.

The state-run National Food Authority plans to tender for 200,000 tonnes of corn on April 11, to meet the requirements of feed millers and pig and poultry raisers and to keep domestic prices stable.

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