October 16, 2017
US-Philippines grains trade robust
US agricultural exports to the Philippines including grains and dairy products increased 11% to $2.5 billion in 2016, making the Southeast Asian country the US' 11th-largest global market, according to the USDA's 2017 Philippines Exporter Guide Annual released earlier this month.
The top US exports to its former colony were soybeans and soybean meal (($833 million), wheat ($592 million), dairy products ($227 million), red meats ($143 million), prepared food ($89 million), and poultry meat and products ($77 million).
Agricultural export sales in 2017 are forecast to increase 7% to $2.75 billion.
The Philippines' rapidly expanding production of processed foods and beverages presents robust
opportunities for US exporters of agricultural raw materials and high-value ingredients, according to the US exporter guide.
However, the guide noted that several US agricultural exports to the Philippines face higher tariffs than competing products imported from ASEAN member countries and/or ASEAN-FTA member countries such as Australia, New Zealand, China and India.