Corn prices fall to all-time low

MANILA, Philippines — Local corn farmers are now at the losing end as prices hit a low of P9 per kilogram, way below production cost due to  imports and lack of government support.

The Philippine Maize Federation Inc. (PhilMaize) said  corn farmers are getting the short end of the stick with almost nothing to take home.

In a text message,  PhilMaize president Roger Navarro said the government’s inaction in helping farmers and the continued importation of corn substitute has severely damaged the local industry.

The price should at least be about P13.25 for farmers to earn fairly.

The last time corn prices dipped was more than 10 years ago during the time of former agriculture secretary Arthur Yap when prices reached P7 per kilo.

“It’s a double whammy because there is no marketing support by any government agency, not even DA,”  Navarro said.

While the DA announced that local government units would buy their produce, none of this has happened, he said.

“LGUs don’t have the expertise, they don’t have the logistics back up and besides this is not their mandate and priority. It is very sad that when they crafted the RTL (Rice Tariffication Law), they were merely focused on rice and left out corn on the back burner,” Navarro said.

“Even if it is an alternative staple, it is a major component in feeds for livestock and is included in the top three commodities, aside from rice and copra,” he said.

The DA already said it is studying options to export corn to the world market to prevent the further slide in prices, but PhilMaize said farmers need immediate solution to the problem they are facing.

“We still need to establish the needed sustainable policy on that...The RTL has stripped off the powers of the National Food Authority to oversee the corn industry.

“Basically imports plus lack of sufficient  storage facilities and government marketing support are killing the farmers. It is very sad, but this is what’s happening,” Navarro said.