June 29, 2011

           
Philippines' beef imports surge in May

The total amount of beef imports into the Philippines during May increased by 12% compared with the same period last year, to 9,396 tonnes slaughter weight.

However, total volumes over the five months to May remain 3% below the same period last year, at 41,939 tonnes swt. Significantly lower imports during February this year, partly attributed to the disrupted supply of beef from Australia during January, resulted in lower overall beef imports.

During January to May 2011, beef imports from India decreased 5% on-year, accounting for 42% of the total Philippines' beef imports. Imports of Brazilian beef also fell 31% over the same period, as higher prices and the strong Brazilian domestic market limited export availability. Brazilian beef's share of the Philippines import market decreased three percentage points to 8% during the five months period.

Maintaining or gaining market share during the first five months of 2011 were Australia (23%), New Zealand (14%), the US (9%), and the EU (3%, mainly from the Netherlands and the UK).

Although rising oil prices have raised consumer concerns over utility bills, transportation and food cost in the Philippines, demand for imported red meat is expected to remain firm throughout the remainder of 2011.