Philippines to cut wheat imports due to lower feed demand

which was revised upwards on expectations of higher demand for food and feed. The Philippines is completely dependent on wheat imports because the local climate is not conducive to its cultivation. The country imports wheat for flour production and feed wheat for livestock. The USDA-FAS in Manila said that demand for feed wheat is declining as local feed producers prefer corn due to its physical properties and better nutritional qualities. In the second half of 2024, imported feed wheat was $12.22–$48.41 per ton more expensive than corn, and rising global corn production will make corn prices more competitive in the next marketing year. For the current marketing year, which ends in a month, the USDA forecasts wheat imports at 6.8 million tons, down from an earlier estimate of 7.2 million tons and less than the 6.9 million tons imported in 2023/24. In the previous marketing year, the United States, Australia, Brazil and Canada were the main suppliers of wheat to the Philippines, ...