THE Philippines could end the year with thin or deficit stocks in key commodities like pork, fish, corn and onion as overall supply falls short of the country’s total demand.
The country may suffer shortages in corn, onion and fish while it could face a thin supply of pork by the end of the year, according to the Department of Agriculture’s (DA) presentation during a House Committee on Agriculture and Food hearing.
The DA’s presentation showed that the country would have a 712,206 metric tons (MT) deficit in corn supply intended for feed consumption at the end of the year, which is equivalent to 31 days of stocks.
The country’s total corn supply, which takes into account both local production and imports, is estimated at 7.667 million metric tons (MMT), 8.5 percent lower than the 8.379 MMT overall estimated demand of the feed industry.
Broken down, 5.379 MMT would come from local corn production while the remaining 2.287 MMT would be imported feedstock, a combination of both yellow corn and feed wheat.
The country is estimated to import 505,195 MT in yellow corn and 1.782 MMT in feed wheat this year to somehow fill the gap in its shortfall of feed supply, according to the DA.
The DA presentation indicated that the country could face a 38-day shortfall in fish supply.
Based on the department’s estimates, total fish supply this year is pegged at 3.267 MMT, insufficient to meet the 3.625 MMT estimated total demand.
The DA’s presentation pegged local production at 2.928 MMT while imports could reach 338,798 MT.
For onion, the country is expected to suffer a three-day shortage as total supply of 285,781 MT falls short of meeting the 288,018 MT total estimated demand, DA presentation showed. The country’s estimated onion supply deficit is at 2,237 MT.
For the first time in history, the Philippines suffered an “onion crisis” late last year until earlier this year due to “insufficient” stocks, causing retail prices to shoot over P500 per kilogram.
Meanwhile, the country’s pork supply would just be ample to meet the population’s total demand, ending the year with a surplus of 4,907 MT or good for one day stock.
Based on the DA’s estimates, total pork supply this year is around 1.624 MMT while demand is at 1.62 MMT.
Image credits: Edgegraph | Dreamstime.com