July 31, 2024

 

Philippines' pork, chicken imports to rise this year, according to USDA

 

Pork and chicken imports by the Philippines are expected to increase in 2024 as producers seek alternative markets in the face of falling Chinese demand, the US Department of Agriculture (USDA) said.

 

In a report, the USDA said that major meat exporters like the European Union, Brazil, and the United States will seek to sell more to the Philippines, Japan, and South Korea.

 

"However, these markets will only partially offset lower China demand," the USDA added.

 

Philippine pork imports are expected to rise to 500,000 metric tons (MT) this year, against the 448,000 MT estimated by the USDA last year.

 

In the five months to May, imports of pork rose 10.6% to 253,548 MT, according to the Philippines' Bureau of Animal Industry.

 

The USDA said Philippine hog production is expected to be flat after a 1.05 million MT (MMT) performance in 2023. This would result in a shortfall in meeting demand of about 1.59 MMT this year. Demand was projected to grow 2% from last year.

 

On the other hand, shipments of chicken meat are forecast at 465,000 MT in 2024, against the 438,000 MT shipped in 2023.

 

Domestic chicken production was expected to rise 3% to 1.54 MMT this year, the USDA said, resulting in a shortfall with chicken consumption estimated at 1.99 MMT.

 

According to the Meat Importers and Traders Association, Executive Order (EO) No. 62, which extended low import tariffs, could stabilise meat import costs even with high international prices.

 

EO 62, signed by Philippine President Ferdinand R. Marcos, Jr., extended low tariffs on pork and mechanically deboned chicken meat until 2028.

 

The tariff for pork was kept at 15% for shipments within the minimum access volume and 25% for those exceeding the quota.

 

The rate for mechanically deboned chicken was retained at 5%.

 

- BusinessWorld