News last update:6 Aug 2012

Philippines asks for more raw materials

The Philippines asks suppliers the availability and costs to supply the country with 80,000 metric tons of yellow corn for livestock and poultry feed. The corn will have to be shipped into the country by July to meet the supply shortfall, National Food Authority Administrator Jessup Navarro said.

The Philippines already bought 60,000 tons from Cargill Inc. for delivery by the end of July, in a tender on April 11. Another 60,000 tons was purchased from Toepfer International at $215.50 a ton for delivery by end-June. However, this is still not enough to meet the demand. Philippine imports of wheat and yellow corn, ingredients for animal feed, is projected to rise by more than a third to 1.81 million tons this year from last year, as demand outpaces production, Livestock Development Council Director Pedro Ocampo said earlier.

Zero import tariff
National Food "will decide as soon as possible'' on a request by Philippine feed millers to call the tender and allow them to purchase the additional grain at zero import tariff, instead of the 35-50% rate charged for regular imports, Navarro said. "If that is approved, we'll publish the notice to bidders as soon as possible,'' he said.

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(Source: Bloomberg.com)

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