August 25, 2023

 

Philippines livestock production grows in Q2 2023

 

Livestock output increased in the Philippines between April and June this year, as data from the Philippine Statistics Authority showed chicken and swine production increased year-on-year compared to same period in 2022, The Manila Times reported.

 

Philippines' chicken production for the quarter reached 477.76 thousand metric tonnes (MT) liveweight, signifying a year-on-year expansion of 3.2% from the 463.12 thousand MT in the corresponding period of 2022.

 

By June 30, the overall chicken inventory tallied 200.21 million birds, marking a 2.8% surge compared to the same period's count of 194.71 million from the prior year.

 

The farmgate price for broiler chicken averaged PHP 134.13 (~US$2.37; PHP 10 = US$0.18) per kg liveweight, representing a decrease of 2.4% in contrast to the previous year's level of PHP 137.39 (~US$2.42) per kg.

 

During the same timeframe, swine production demonstrated a 1.0% increase to 422.72 thousand MT liveweight, as compared to the 418.40 thousand MT output recorded the previous year.

 

Small-hold farms contributed around 67.5% of the nation's swine population, while the remaining 29.2% and 3.2% originated from commercial and semi-commercial farms, respectively.

 

The average farmgate price for swine in this quarter reached PHP 169.73 (~US$3.00) per kg liveweight.

 

Michael Ricafort, chief economist at Rizal Commercial Banking Corp., attributes the surge in chicken and swine production to escalating demand amid the gradual return to economic normalcy. He further highlighted the rise in demand during the holiday season and the concurrent surge in domestic travel as driving factors behind this trend.

 

Conversely, cattle production faced a 1.0% year-on-year contraction, totalling 60.95 thousand MT, down from the 61.54 thousand MT seen in the equivalent period of 2022.

 

Ricafort pinpoints elevated input costs, such as feed, as the main reason behind the decline in cattle output, which in turn squeezed producers' profit margins.

 

-      The Manila Times