Wheat imports rising as Filipinos diversify diet

Published 2024년 12월 30일

Tridge summary

The Philippines is projected to increase its wheat imports to 7.2 million metric tons for the 2024-2025 marketing year, marking a 4.1% rise from the previous year, as reported by the USDA’s Foreign Agricultural Service (FAS). This increase is attributed to growing demand for wheat-based products and population growth. The country's demand for milling wheat is expected to rise by 4.3% to 3.65 million MT, while feed wheat consumption is forecasted to remain stable at 3.45 million MT. Despite falling global corn prices, local feed manufacturers are expected to favor feed corn over feed wheat. Additionally, the price of milling wheat has decreased to $274 per MT, while imported corn prices have been declining since May.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Philippines is expected to import more wheat in the 2024-2025 marketing year as the demand for various products such as bread, cakes, and noodles increased along with population growth. The United States Department of Agriculture’s Foreign Agricultural Service (FAS) said the inflow of Philippine-bound wheat cargoes from July 2024 to June 2025 is expected to reach 7.2 million metric tons (MT). The estimated volume is 4.1 percent higher than the 6.9 million MT of wheat that the USDA-FAS estimates to have been imported to the Philippines in the 2023-2024 marketing year. The report expects the importation of milling wheat—which is used for human consumption—to increase in the current marketing year but anticipates stable overseas purchases of feed wheat, which is used for animals’ food. The Philippines does not produce wheat and depends solely on imports to meet its supply needs. The demand for milling wheat is estimated to rise by 4.3 percent to 3.65 million MT while the forecast ...

Source: UkrAgroConsult