August 3, 2017

 

Philippine meat imports decline 13% in H1 due to high prices, weak peso

 

 

The Philippines' meat imports in the first six months decreased almost 13% to 280,269.056 tonnes from 322,013.273 tonnes a year ago, latest data from the Bureau of Animal Industry (BAI) showed, according to the Business Mirror.

 

Pork, which accounted for almost half, or 47.31%, of meat imports during the period declined   9.70% to 132,622.608 tonnes.

 

Of the total pork imports in the first half, offals accounted for 43%, or 57,014.272 tonnes, which was 7.24% lower than the 61,462.927 in the same period last year.

 

Chicken accounted for 31.57% of the total meat purchase from abroad in the six months through June, although volume declined by 20.31% to 88,489.449 tonnes from 111,048.694 tonnes in the same period in 2016.

 

Of the total chicken-meat imports during the first half, 73.23% were mechanically deboned meat (MDM), which is mainly used by meat processors. MDM imports reached 64,808.037 tonnes, 22.07% lower than the 83,165.789 tonnes last year.

 

Also down during the six-month period were imports of meats of lamb (-33.83%; 297.254 tonnes), turkey (-31.98%; 979.634 tonnes) and buffalo (-30%; 13,580.756 tonnes from 19,400.074 tonnes last year).

 

Beef imports an exception

 

Beef imports, however, increased 3.51% to 44,201.071 tonnes in the first six months, as well as

duck meat imports, which rose 10.96% to 98.284 tonnes from 88.575 tonnes last year.

 

The US was the country's No. 1 exporter of meat products in the first half, accounting for nearly 20% of total imports. Imports from the US reached 55,925.680 tonnes.

 

Germany came in second, as it shipped a total of 35,918.254 tonnes during the period.

 

BAI Assistant Director Simeon S. Amurao Jr. attributed the country's lower meat imports to the hike in international prices as a result of tight global supply, the Business Mirror reported.

 

"Only a few traders are applying for import permits compared to last year. This is still caused by the high price of meat abroad, which has not changed since the start of the year," Amurao told the Philippine business broadsheet.

 

Meat Importers and Traders Association President Jesus C. Cham said that besides the high prices abroad, the decline in meat imports was caused by the weak peso and volatile foreign exchange.