Philippines

Supply/Demand Basics

  • U.S. corn co-products main competition is other alternative imported proteins; SBM/WHT.
  • SEA’s 2nd largest producer of corn (8.2 MMT) with about 60% yellow and 40% white.
  • Ethanol imports reached 80 Mil gallons in 2019, with almost all coming from the USA.
  • Feed mill production capacity of 18.5 MMT, with utilization of around 90%.

Country Overview

  • Population / growth: 110 million / 1.52%
  • Urban / growth: 47.4% / 1.99%
  • GDP / growth: $383 billion / 6.6%
  • GDP per capita: $3,484
  • A complex archipelago with over 7,000 islands.
  • One of the fastest growing populations in Southeast Asia.
  • The annual GDP growth target for 2019 is projected at 6-7 percent.

Trade and Market Share Overview

  • Imports significant amounts of U.S. wheat, some of which is used for feed purposes.
  • Marginal corn importer, usually from Thailand and Vietnam, but occasionally from U.S.
  • Major U.S. ethanol importer. (5th largest market in 2019)
  • End users favor imported corn due to lower mycotoxin content.
  • U.S. DDGS are imported as an alternative to higher priced local corn.

Policy Overview

  • All imports with GMO events must have biosafety certificate.
  • 10% ethanol blending mandate, RA 9637 calls for E20 by 2020.
  • Effective and strong ethanol mandate.
  • 35% in quota duty and 50% out of quota for MFNs (Mainly affecting U.S. Corn).
  • Asian Economic Community (AEC) countries will have a 0% corn import duty.