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Philippines Buys 40,000 Tons Ukraine Wheat At $180/Ton, C&F

Published: 23 Oct 2008 02:49:28 PST

MANILA --The Philippines Thursday bought 40,000 metric tons of wheat from Ukraine at $180 a ton, cost and freight for January shipment, a feedmilling executive said.

"We have returned to the market because prices are attractive," the executive said.

This brings the country's total imports so far in 2008 to 120,000 tons.

Early last week, local traders bought 40,000 tons of Ukrainian wheat at $220/ton, C&F for December shipment.

Previously, local feedmillers bought wheat from Ukraine at $226/ton, C&F.

The landed cost of wheat imported at $180/ton would be about PHP10.70 a kilogram compared with the prevailing local price of PHP13.90/kg for corn, the executive said.

Wheat and corn can be used interchangeably in livestock and poultry feed.

The Philippines had stopped importing feed wheat until this month following steep increases in world market prices last year.


-By Rhea Sandique-Carlos, Dow Jones Newswires; 63-918-9014158; rhea.sandique-carlos@dowjones.com



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