October 23, 2008

In September, the Philippines imported 3,960 tonnes swt of beef, down 62 percent on-year.

Contributing to the fall was a 95-percent drop in Brazilian beef imports and a 67-percent decline in imports of Indian carabeef, despite imports from Australia, US and Canada jumping 67 percent, 74 percent and 73 percent respectively.

A robust Russian demand has driven up Brazilian beef prices, which made Australian beef more attractive in the Philippines, especially during August and September.

Beef imports from January to September increased 2 percent on-year to 91,087 tonnes swt, a new record high. However, Brazilian beef imports fell 61 percent during the period, with its market share in the Philippines shrinking to 12 percent from 31 percent last year.

Indian carabeef remained dominant in the Philippine beef import market, with a 50 percent share during January to September 2008. The share of Australian beef surged to 14 percent, while New Zealand beef, Canadian beef and US beef increased 10 percent, 7 percent and 6 percent respectively.