Corn pushed as QTA crop

MANILA, Philippines – The Philippine Maize Federation (Philmaize) is urging typhoon-hit rice farmers in Isabela to shift to corn as a quick turnaround crop and take advantage of the expected high global price of corn in the next couple of months.

Roger Navarro of Philmaize said recent worldwide developments point to a commodity squeeze and continued skyrocketing of commodity prices.

The said effects of climate change in other countries which will affect corn production greatly favors corn planting in the Philippines today.

 “Corn price is seen to skyrocket as USDA made further downward revision and slashed its corn estimates in yield and production according to Rabobank,” Navarro said.

He said the latest CNF price for yellow corn ex USA is $310 to $320 per MT. At exchange rate of 43 to $1, ex vessel corn should be at P13.30 per kilo, which means the landed price will be at P15 per kilo minimum.”

According to Navarro, China remains uncertain and unpredictable about its stock levels, raising fears that the country has to implement a corn import program.

He added that corn surplus from the Mekong Delta is absorbed by or is supplied to the PRC.  

In the Baltic regions, the effects of climate change have forced governments to extend the prohibition of feed wheat (corn substitute) exports to other countries, Navarro continued.

He said Australia and India have not been spared from climate change with devastating effects to their corn production.

In view of all these developments, “now is the opportune time for our Filipino corn farmers from all over the country to plant corn and recover from their past losses as we see this trend to continue until next year,” Navarro said, adding that Philmaize is encouraging rice farmers in Isabela to plant corn as their quick turn around crop.

Planting corn in early March after they harvest rice in February, Navarro said would be good to deliver their corn harvest in June to the newly-opened Reina Mercedes Post Harvest Processing in Isabela Province.

The potential quick turnaround rice areas which can be planted to corn, Navarro said, are near the Magat Multi-Purpose Dam, the towns of San Manuel, Cabatuan, Roxas and other nearby towns that account for more than 60,000 hectares.

Rice farmers in those areas, Navarro said, could easily make money by planting corn after rice.