FEED millers are asking the Department of Agriculture (DA) to consider the suspension of tariffs levied on alternative raw materials used for making animal feeds to help them cope with the increasing cost of corn both in the local and international market.

In a letter dated January 29, the Philippine Association of Feed Millers Inc. (Pafmi) requested that the DA suspend the tariffs on imported soybean, soybean meal, dried distillers grains soluble and tapioca residue pellets.

“Pafmi would like to request for the temporary lifting of the existing tariff duty on imported soybean, soybean meal, dried distillers grains soluble and tapioca residue pellets for a period one year,” said Pafmi president Norman C. Ramos.

“We believe that the reduction in tariff rate will provide economic relief to feed millers, livestock and poultry producers, other industry stakeholders and, ultimately the consumers,” said Ramos.

Tariffs imposed on soybean meal, which is considered one of the major components for producing feeds, is pegged at 3 percent.

Earlier, hog raisers led by the National Federation of Hog Farmers Inc. (NFHFI) said they are keen on encouraging the use of alternative feed materials because of the spike in the price of corn in the local and international market.

Feed producer Vitarich Corp. noted that the price of local corn is now at P14 per kilogram while the landed cost of corn minus the duties is now at P16 per kilo.

Vitarich president Rogelio Sarmiento admitted that the price of corn, which is considered the traditional raw material used for making animal feeds, have cut into the profits of feed millers.

Historically, the Philippines’ shortfall in corn production is pegged at 1 million metric tons. In the past, feed millers would usually resort to importing corn to fill the shortage.

The rush to bioethanol production using corn as feedstock has caused international supply to tighten considerably in recent years.

Pork and chicken products could become more expensive if hog raisers and poultry growers could no longer absorb the increases in their production costs.

THE government has secured a $300-million Asian Development Bank loan that will help local government units (LGUs) pursue financing and budget reforms, President Arroyo announced Wednesday.

CEBU CITY—Cebu furniture exporters are pinning their hopes on new markets, particularly in the Middle East and in Russia, to cushion the effects of a reported US recession and the strengthening peso.

FEED millers are asking the Department of Agriculture (DA) to consider the suspension of tariffs levied on alternative raw materials used for making animal feeds to help them cope with the increasing cost of corn both in the local and international market.

ZAMBOANGA CITY—Agriculture Secretary Arthur Yap led the inauguration of a P33-million Zamboanga del Norte corn postharvest processing and trading center, which is expected to raise production of the grain in the province by as much as 10 percent and farmers’ incomes by as high as 50 percent.

INDEPENDENT think tank Ibon Foundation said there is a possibility that the government will resort to more taxes this year to address the fiscal crisis and ensure that it can continue its debt-servicing efforts.

THE national government is still liable for the loan obligations of the National Transmission Corp. (Transco) for existing loans secured prior to Transco’s privatization.

It’s Valentine’s Day and as such, men would try to impress women by taking them out on dates to upscale restaurants where great food, ambience and service are expected.