Philippine wheat imports to rebound in 2018/19: USDA

Imports of wheat into the Philippines are expected to rise by 550,000 mt (10%) in the upcoming marketing year to 5.75 million mt, according to USDA, data following heavy investment in the local flour milling and feed-milling industry.

Imports of wheat are expected to decline from 5.7 million mt to 5.2 million mt in the 2017/18 marketing year running up to June 2018, as the nation’s millers run down stocks.

However, imports, which virtually account for 100% of demand, will rebound the following year.

The US is a major supplier of wheat to the southeast Asian archipelago.

"According to industry contacts, there are currently 20 flour mills with an aggregate milling capacity of over 5 million mt," the report said.

In terms of corn, production is expected to stay stable at around 8 million mt.