World Grain - March 2011 - (Page 20)

COUNTRYFOCUS Focus on the Philippines Higher grain consumption being driven by increased demand for wheat by Chris Lyddon Key Facts Capital: Manila Population: 99,900,177 (July 2010 est.) Religions: Roman Catholic 80.9%, Muslim 5%, Evangelical 2.8%, Iglesia ni Kristo 2.3%, Aglipayan 2%, other Christian 4.5%, other 1.8%, unspecified 0.6%, none 0.1% (2000 census). Location: Southeastern Asia, archipelago between the Philippine Sea and the South China Sea, east of Vietnam. Government: Republic; Chief of state and head of government: President Benigno Aquino (since June 30, 2010). Economy: Philippine GDP grew nearly 7% in 2010. The economy weathered the 2008-09 global recession better than its regional peers due to minimal exposure to securities issued by troubled global financial institutions; lower dependence on exports; relatively resilient domestic consumption, supported by large remittances from 4 to 5 million overseas Filipino workers; and a growing business process outsourcing industry. Economic growth in the Philippines has averaged 4.5% per year since 2001, when former President Macapagal-Arroyo took office. Despite this growth, poverty worsened during the term of Macapagal-Arroyo, because of a high population growth rate and inequitable distribution of income. MacapagalArroyo averted a fiscal crisis by pushing for new revenue measures and, until recently, tightening expenditures to address the government’s growing budget deficit and to reduce high debt and debt service ratios. But the government abandoned its 2008 balanced-budget goal in order to help the economy weather the global financial and economic storm. The economy under Aquino faces budget shortfalls in the near term but has had little difficulty issuing debt both locally and internationally to finance the deficits. Aquino’s first budget emphasizes education and other social spending programs, relying on the private sector to finance important infrastructure projects. Weak tax collection in recent years limits the government’s ability to address major challenges. GDP per capita: $3,500 (2010 est.); inflation: 4.2% (2010 est.); unemployment 7.5% (2010 est.). Currency: Philippine Pesos (PHP): 43.3 pesos equal 1 U.S. dollar (Feb. 18, 2011). Exports: $45.89 billion (2010 est.): semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, fruits. Imports: $57.24 billion (2010 est.): electronic products, mineral fuels, machinery and transport equipment, iron and steel, textile fabrics, grains, chemicals, plastic. Major crops/agricultural products: Sugarcane, coconuts, rice, maize, bananas, cassavas, pineapples, mangoes; pork, eggs, beef, fish. Agriculture: 13.7% of GDP and 34% of the labor force. Internet: Code. .ph; 394,990 (2010) hosts and 8.278 million (2009) users. Source: CIA World Factbook The Philippines has a rapidly growing population and an expanding economy that’s making the switch from a largely rural economy to an industrial one. Even so, more than one-third of its workforce is still in agriculture and concerns over malnutrition remain. Dramatic weather events, including typhoons, floods and droughts have had a severe effect on food production in recent years. According to the International Grains Council (IGC), total grains production, all of which is maize (corn), in the Philippines was 6.8 million tonnes for 2010, compared with 6.3 million in 2009. Total grain imports are put at 3.1 million tonnes, up from 3 million. Of that, 2.9 million were wheat. The staple food in the Philippines is rice. The IGC puts its 2010 production at 10.7 million tonnes, up from 10.6 million in 2009. Rice imports for 2011 are forecast at 2.1 million tonnes, down from 2.5 million in 2010. However, the National Food Authority has been reported as saying that it wants 2011 imports down under 1 million tonnes. According to the Business World website, the authoriPHILIPPINES ties have also decided to let the private sector bring in 65% of the volume. NFA Administrator Angelito T. Banayo said that the reduction was because of record imports last year and the expectation of a MALAYSIA good harvest. “The Department of Agriculture estimates a bumper crop this summer h harvest,” he said. t The country is also a major coconut oil producer, producing, according to the USDA, around 1.6 million tonnes a year. According to the USDA attaché in Manila, higher grain consumption in 2010-11 is being driven by wheat demand, resulting from an improved supply. “The Philippine Association of Flour Millers (PAFMIL) reportedly expects a 10% rise in this year’s flour output and, as a result, 20 March 2011 / World Grain /

Table of Contents for the Digital Edition of World Grain - March 2011

World Grain - March 2011
from the editor-in-chief - Arab revolution of great importance for wheat
Australia’s winter crop estimated to increase 19%
With China crop in trouble, wheat surges upward
Port of Novorossiysk grain volumes decline 36.5%
FEFAC welcomes E.U. decision on GMO
Cargill to build new corn processing plant
Joint venture to build new canola crush plant in Canada
CWB purchases lake vessels for grain
E.U. compound feed production increases in 2010
U.S. fl our production in 2010 gains 0.4%
Industry responds to corn amylase approval
Scoular purchases ethanol plant, shuttle facility
Income from operations, sales soar at MGPI
Grain, ethanol boost The Andersons, Inc. to record results
Bunge’s net income rises on strong agribusiness performance
COUNTRY FOCUS - Focus on the Philippines
Key Facts
Flooding takes toll on Australian grain industry
Single desk survives — for now
What's next for Russia?
A New Vision
Unrest in Egypt
New look for Victam International 2011
Attendance surges at IPE/IFE
Deep in the heart of Texas
Schedule at a glance
Nominations solicited for Milling Operative of the Year
IAOM Conference & Expo - 2011 exhibitor booths
FEED OPERATIONS - Energy savings
Proactive path to PEST MANAGEMENT
Seeking to add customer value
Buhler Technology Group has successful 2010
Stern-Wywiol Gruppe receives prestigious business awards
Perten to supply Turkish Grain Board with Inframatic analyzers
GSI Group launches new customer-centric website
Ocrim supplies Libyan mill
Cargotec to acquire terminal operator systems provider
Eurofi ns appoints new chief scientifi c offi cer
4B Braime opens new subsidiary in Australia

World Grain - March 2011