The Department of Agriculture (DA) has recommended increasing the minimum access volume (MAV) for corn to 500,000 metric tons from the current 216,940 metric tons, BusinessWorld reported. The proposal includes a preferential tariff rate of 5% on corn imports.
The DA said the move aims to reduce the risk of shortages and protect farmers who use corn as animal feed from rising costs. Higher imports would supplement local supply and help stabilize feed prices.
The proposal is subject to approval by the National Economic and Development Authority (NEDA). Industry stakeholders are expected to provide input during the review process.