October 3, 2023

Philippines' meat production expected to surge in 2024, USDA reports

The US Department of Agriculture (USDA) predicts increased pork, chicken meat, and beef production in the Philippines for 2024, driven by growing investor interest in these commodities, The Manila Times reported.

The USDA's Foreign Agricultural Services (FAS) forecasts pork production to rise to 970,000 metric tonnes (MT) in 2024, compared to the 2023 estimate of 950,000 MT. This growth is attributed to efforts to repopulate the swine commercial sector. Pork consumption is also expected to increase to 1.49 million MT in the next year.

The Philippines is likely to see a decrease in pork imports, from the previous estimate of 525,000 MT to 500,000 MT. This decline is due to tight global supply conditions. However, the USDA anticipates a potential increase in the second half of the year if lower tariff rates set to expire on December 31, 2023, are not extended.

The USDA projects an increase in beef production to 190,000 MT for 2024, up from the 2023 estimate of 185,000 MT. This uptrend is attributed to increased investor participation in the sector. Beef consumption is expected to slightly rise to 389,000 MT in the coming year.

Chicken output is also set to increase, reaching 1.52 million MT in 2024, compared to the 1.47 million MT forecast for 2023. High feed ingredient prices continue to pose constraints in the sector.

Chicken consumption is expected to reach 2.01 million MT in 2024, higher than the 1.96 million MT forecast for 2023. Given the impact of inflation on consumers' purchasing power, chicken, being a more affordable protein source, is likely to be the preferred choice.

The country may import more chicken meat, estimated at 500,000 MT in 2024, driven by higher expected demand and competitive prices compared to local production.

The USDA's report also highlights provinces declared free from highly pathogenic avian influenza (HPAI), including Aurora, Quezon, Capiz, and Batangas, which is expected to boost chicken production, particularly in Batangas, a major poultry-producing province.

-      The Manila Times