Press Release - Sponsorship Speech of Senator Cynthia A. Villar on Senate Bill No. 2625 or the Philippine Corn Industry Development Act

Mr. President, esteemed colleagues, and fellow advocates for the agriculture sector, good afternoon!

It is with great honor that I stand before you today to sponsor Senate Bill No. 2625 under Committee Report No. 246, entitled "An Act to develop the Philippine Corn Industry, enhance the availability and affordable of quality feeds and staple food, and provide for a corn competitiveness enhancement fund". In coming up with this report, the Committee on Agriculture, Food and Agrarian Reform together with the Committees on Finance, and Ways and Means conducted one public hearing, two technical working group meetings, and several consultative meetings.

Mr. President, in championing this measure, our aim is to propel the competitiveness and expansion of the yellow corn industry. It is a crucial supplementary measure aligned with the objectives of the Livestock, Poultry and Dairy Industry Development Act which I earlier sponsored. It is imperative that we also bolster the corn industry.

The yellow corn industry plays a pivotal role in sustaining our livestock and poultry industry and feeding our nation. In 2023, the combined corn-livestock-poultry sector contributed 27.17% of gross value added in agriculture. It provided livelihood opportunities to more than 1.28 million corn farmers, 2.8 million livestock and poultry farmers and thousands of other industry players throughout the value chain. This underscores the impact of the industry on our economy, particularly on job creation, food security, and potentially on poverty alleviation.

Yet despite its significance, the yellow corn industry faces its share of challenges that require greater government attention. For instance, amidst increasing demand in the feeds, foods and other industrial markets, the Philippines remains a net importer of yellow corn. Approximately 84% of the yellow corn produced locally is being used by the animal industries as feeds, but in 2020, the country achieved only 57% self-sufficiency in yellow corn for feed use. It should be noted that in broiler and swine production, feeds make up about 50% and 60% of the overall production costs, respectively. The Philippines has the highest cost of