Auction was canceled though due to high prices. The lowest price offered was for Brazilian corn 191.5 USD / mt, C&F.

Over the last four years, Australia has increased the export of feed wheat to the Philippines to 6 million tonnes. Growth has been achieved since Australian wheat has received 7% duty compensation compared to wheat of a different origin.

The main feed culture in the Philippines is corn. To protect local farmers, the government has introduced a 30% import duty for all importers other than ASEAN. Of the ASEAN countries, only Thailand is an exporter of corn, but nowadays the prices of the crop are above those of Latin America.

In this situation, as an alternative to corn, it is preferable to import cheaper Australian feed wheat.