By Melody M. Aguiba
MANILA, Philippines – The Department of Agriculture (DA) and Land Bank of the Philippines (LBP) should finance a third crop planting of corn this season so as to produce an extra 500,000 metric tons (MT) and avert a corn shortage in 2011 that could send price beyond P20 per kilo.
An estimated 100 hectares should be planted to corn in a third crop by February to March 2011 to produce the additional volume, according to Philippine Maize Federation Inc. (PMFI) Chairman Roderico R. Bioco and General Manager of Reina Mercedes Corn Processing Center (RMCPC).
The corn group asserted that DA and LBP can play a significant role in financing the third crop planting.
“DA can probably encourage our rice farmers (to plant corn) by subsidizing some of the costs of planting (hybrid corn) such as Roundup Ready-Bt corn which are preferred by farmers to control weeds.
“We will not only increase corn production, but also increase farmers' income which is critical for them to finance their regular rice planting requirements come this July 2011,” said Bioco.
PMFI has earlier met with LBP Vice President Ramon L. Monteloyola regarding financing of the third crop as corn production is seen to have a shortfall of 800,000 MT by the third quarter of 2011.
Without government intervention on additional cropping, corn price may further skyrocket. “There is a possibility that corn prices may shoot up beyond P20 per kilo if there is no major measure to correct the supply situation. Granting that El Nino early this year brought down Luzon production by 500,000 tons and caused the feed wheat over-importation of 300,000 tons (although this is debatable), there will still be a net shortfall of 500,000 to 800,000 tons,” he said.
A total of 1.3 million MT of feed wheat came in the first half of 2010, but none is expected to come in until the first half of 2011. This is as Russia and other countries in the Baltic region have held off export of feed wheat for their own food security.
Copyright 2010. Manila Bulletin | All Rights Reserved
