February 10, 2021

Philippines to increase pork imports to cover domestic price surge

William Dar, the Philippines' Agriculture Secretary, said the country will boost pork imports to 400,000 tonnes in 2021, more than double its initial proposal of 162,000 tonnes, as it looks to cover tightened domestic supplies that have pushed local pork prices higher, Reuters reported.

The Philippines is pressured to increase pork imports after African swine fever outbreaks in the country reduced swine inventories. The Philippines is one of the biggest importers of pork in the world.

Rising pork prices have pushed the Philippines' inflation to a two-year high in January.

The Philippines' government has also allocated billions of pesos for swine repopulation and imposed a price cap for pork and chicken for two months in the capital region.

- Reuters