September 27, 2022

 

Philippines pork inventory flat as of September 19 compared to same volume last year

 

 

Data from the Philippines' National Meat Inspection Service (NMIS) showed that the country's frozen pork inventory was flat as of September 19, compared to the volume recorded in 2021, Business Mirror reported.

 

According to NMIS data, there were 85,600 metric tonnes of frozen pork in authorised local cold storage facilities. The inventory was estimated to be 85,197.21 metric tonnes last year.

 

According to information from the Department of Agriculture's attached agency, the country's pork inventory was, however, 6.4% lower on a weekly basis than the 91,522.24 metric tonnes recorded on September 12 of last year.

 

As of September 19, or 83,062.61 metric tonnes, approximately 97% of the nation's frozen pork stockpile was imported. 2,543.99 metric tonnes of the remaining volume was domestically produced.

 

Data from the NMIS showed that, Region 3 cold storage facilities held about 25,326.08 metric tonnes, or 29.58%, of the total frozen pork inventory.

 

Stocks of frozen pork were estimated at 22,937.6 metric tonnes in the National Capital Region and 23,579.05 metric tonnes in Region 4A.

 

The country's inventory of dressed chicken in cold storages as of September 19 was 43,287.61 metric tonnes, down 22.78% from the 56,059 metric tonnes recorded inventory during the same period last year, according to NMIS data.

 

Data from NMIS showed the inventory of dressed chicken during that time was 3.78% higher than the 41,711.44 metric tonnes recorded on September 12 of the previous year.

 

The NMIS said 25,403.02 metric tonnes, or about 57.85%, of the total dressed chicken inventory was imported, with 17,884.59 metric tonnes coming from domestic production.

 

Due to the weakening peso and constrained global supply, the Meat Importers and Traders Association (Mita) had issued a warning that imported meat products might become more expensive in the upcoming months.

 

According to the most recent government statistics, the country's imports of meat increased by 7% from January to August to over 850,000 metric tonnes as a result of increased purchases of pork from abroad.

 

Pork imports into the nation, which made up 54.56% of all meat imports, increased by a fifth from the previous year to 464,838.711 metric tonnes, up from 385,563.34 metric tonnes. Prime cuts of pork, which currently enjoy a lower tariff rate, made up 55% of all imports of pork during that time.

-      Business Mirror