Manila:President Ferdinand R. Marcos has raised the Minimum Access Volume (MAV) for imported corn to 500,000 metric tons (MT) from the previous 220,000 MT. This decision aims to address a projected supply deficit of 1.42 MT due to local production constraints and increasing costs.
According to Philippines News Agency, the increase in import quota was made under Executive Order (EO) 129, signed by President Marcos on Monday. The additional 280,000 MT in corn imports is intended to ensure adequate supplies for the livestock, poultry, and feed milling industries amid potential supply shortages or abnormal price increases.
The order highlights the rising costs of fertilizer, fuel, freight, and other agricultural inputs, along with weather-related risks such as the potential effects of El Niño, as factors that could further aggravate the projected supply deficit. The EO emphasizes the urgent need to address the supply gap in yellow corn to stabilize feed and food prices and mitigate inflationary pressures on food commodities.
The approved increase follows the recommendation of the MAV Management Committee (MMC) to activate the MAV Plus Mechanism for corn this year. The additional import volume is intended as a calibrated and temporary measure to support domestic corn supply for feed production, benefiting qualified feed millers, manufacturers, and farmers.
EO 129 mandates the MMC to formulate and issue implementing guidelines within 30 days from the order's effectivity, ensuring equitable and transparent allocation and distribution of the additional import volume. These guidelines must align with existing laws, rules, and regulations, and promote consumer welfare.
The executive order, which was made public on Tuesday, takes effect immediately upon its publication in the Official Gazette or a newspaper of general circulation.
