FEED MILLERS said the price of meat, eggs, and fish may rise further due to issues regarding the supply and quality of domestically grown corn used in animal feed.
The Philippine Association of Feed Millers, Inc. (PAFMI) said in a statement that domestic corn is inadequate to meet rising industry demand.
“As it plays a role in many industries, ensuring the access to affordable and good-quality corn is an issue that not only affects the livelihood of farmers but also has broader implications for food security and economic stability for the rest of the community,” PAFMI President Edwin C. Mapanao said.
Mr. Mapanao added that the majority of animal feed formulations involve yellow corn, which also has human-food and bioethanol applications.
“Corn is a staple crop in the Philippines as it serves as a vital food, feed, and industrial raw material,” he said.
PAFMI declared its support for the extension of the lowered 5% tariff on corn imports, first imposed by Executive Order (EO) 10.
“With corn-reliant sectors developing and demand increasing, keeping tariffs low is an urgent but temporary measure,” it said.
PAFMI added that further corn imports could address supply issues and “ultimately aid in sustaining local production of quality meat, eggs, and fish while keeping prices affordable.”
EO 10, signed by President Ferdinand R. Marcos, Jr. last year, extended the lower tariffs on rice, corn, and pork until Dec. 31, 2023. The Tariff Commission has since heard arguments for or against their extension, and is due to submit its recommendation to the Palace in about a month.
Corn tariffs are currently set at 5% for imports within the minimum access volume quota and 15% for those exceeding the quota.
PAFMI had called for a standard 5% tariff on corn imports, regardless of volume. — Adrian H. Halili
