To avoid sudden and abrupt increase in the price of animal feeds, the National Food Authority will import yellow corn from Argentina, a news update from the NFA said.

Cargill Philippines, Inc. and Toeffer International Asia PTE. Ltd won the right to supply 120,000 metric tons of yellow corn in a bidding held at the NFA national office.

Both Toeffer and Cargill will be supplying 60,000 MT each. Toeffer will supply the corn at US$ 215.50 /MT CFR,FO to arrive not later than June while Cargill quoted US$ 215.48 /MT CFR,FO to arrive not later than July. The corn imports was purchased by 12 end-users including poultry, hog and feedmill integrators who attended the bidding. NFA Administrator Jessup Navarro said the corn importation was done following the directives of the Department of Agriculture which acted on the request of hog and poultry feed integrators to import the commodity.

Since yellow corn is a major ingredient for animal feeds, its importation will keep the livestock and poultry products at affordable prices. However, the end-users shall be charged a service fee of P1 /kg and another P0.50 /kg for the Corn Development Fund. The amount generated through the CDF is then ploughed back to develop the country's corn industry.*

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