The imports are subject to the approval of the Department of Finance, Agriculture Secretary Emmanuel Pinol said in a statement.
Pinol has proposed "lower" tariffs for the corn cargoes, but did not specify any figures. The Philippines imposes duties from 5pc up to 50pc on corn imports.
To further boost domestic livestock feed supplies, he said areas planted with corn and sorghum would be expanded by 100,000 hectares (246,105 acres).
The Philippines' corn output in the first quarter contracted by 2pc from a year earlier to 2.43 million tonnes due to the El Nino, a warming of waters of the eastern Pacific Ocean that often causes hot, dry weather in Southeast Asia.
Pinol also said some of the local large hog producers are looking to export pork to China, which has killed millions of pigs because of an epidemic of African swine fever.
The epidemic, however, has curbed Chinese demand for the country's favourite meat.