Implemented in January 2018, a Philippine tax reform program that cuts personal income taxes should
increase disposable incomes and raise food and feed consumption in MY18/19 onwards. Wheat imports
are expected to increase 550,000 tons to 5.75 million tons in MY 18/19, driven mainly by growing feed
demand. Also on feed demand, MY 18/19 corn imports are expected to increase 200,000 tons to
700,000 tons. Rice imports are likely to decline 300,000 tons to 1.0 million tons due to increasing
production and shifting dietary preferences towards wheat and protein.
–Published by the USDA Foreign Agricultural Service as part of its Global Agricultural Information Network (GAIN) Report. Download copy of the full Report here.