PHILIPPINES 60,000 TONS OF GRAIN.
San Miguel Corp.(SMCB.PH) has signed a contract to buy around 60,000 metric tons of corn from the U.S. for March arrival, a person familiar with the deal said Wednesday.
"The imports were contracted only recently," said the person, who declined to disclose the contract price.
Asia’s largest food and beverage conglomerate, San Miguel has a feed and poultry division.
In December, San Miguel led the purchase of around 100,000 tons of corn from Brazil.
Tuesday, an industry executive said a group of feed millers and hog and poultry raisers bought around 25,000 tons of corn from Thailand for arrival between March 10 and March 15.
Corn is a major component in livestock and poultry feeds.