December 3, 2020

US agri-exports to Philippines to reach US$3.1 billion by year-end: USDA

US agricultural exports to the Philippines are expected to reach US$3.1 billion by end of 2020 despite disruptions caused by the COVID-19 pandemic, the United States Department of Agriculture (USDA) said, CNN Philippines reported.

"Despite COVID-19 disruptions to trade flows, business operations, and consumer welfare, FAS Manila forecasts year-end sales will reach a record $3.1 billion, topping 2019 by seven percent," the USDA Foreign Agricultural Service said.

Top imports include soymeal, wheat, dairy products, and prepared food. The Philippines remains the US' largest market for consumer-oriented products in Southeast Asia, and the ninth largest market for US agricultural products.

The USDA added that high-value, consumer-oriented export products that have most growth potential include prepared food, poultry, and red meat.