June 8, 2009
Philippine processed meat may recover in Q1
The Philippine meat processing industry is expected to recover from a flat performance in the first quarter this year to achieve an annual growth rate in sales of up to 10 percent, despite the global economic recession.
According to the Philippines Association of Meat Processors, whose members produce 250,000 tonnes of processed meat annually, domestic consumption of processed meat in the first three months of 2009 suffered from the impact of the global economic slump, as consumers became cautious about their spending and manufacturers adopting a wait-and-see attitude.
Processed meat products include refrigerated meat such as hotdogs and sausages and canned meat. The growth in demand for these products was expected even during this challenging period, as processed meat has become an essential component of the Filipino's diet.
