Philippine meat imports to drop this year

MANILA, Philippines — Global meat trade is projected to slightly decline this year, with the Philippines among the countries seen to have lower overall meat imports, according to the UN Food and Agriculture Organization (FAO).

In its latest meat market review, FAO said global imports of meat and meat products are forecasted to decrease by 0.6 percent to 39.79 million metric tons (carcass weight equivalent) by yearend from 40.03 million MT.

The UN agency attributed this to the “the anticipated import contractions in the United States, the Philippines, Japan and Angola, among others.”

The Philippines’ overall meat imports is estimated to reach 1.09 million MT this year, down 8.1 percent from 1.19 million MT.

“Higher inventory and higher domestic production could lower meat imports in the Philippines compared to 2022, although the announcement of the extension of the reduced tariff rates on pig meat until the end of 2023 could partially mitigate the decline in pig meat imports,” FAO said.

In terms of bovine meat trade, global imports are expected to inch lower by 0.99 percent to 11.92 million MT from 12.04 million MT.

Principally, FAO said major drivers for this decline are from Egypt, the Philippines, Japan, Israel and Indonesia due to “rising domestic production, accumulated stocks and relatively higher prices compared to other meat protein in tandem with reduced consumers purchasing power due to rising inflation.”

The Philippine bovine meat shipment   is projected to fall by 21.5 percent to 186,000 MT  this year from 237,000 MT a year ago.

Global pork importation is also forecasted to slip by 3.26 percent to 10.65 million MT this year from last year’s 11.01 million MT.

“The anticipated drop in world trade is mainly driven by import contractions in the United States, the Philippines, the United Kingdom, Australia and Japan, among others, underpinned by rising national inventories and increasing domestic availabilities,” FAO said.

The Philippines is estimated to import 428,000 MT of pork this year, down 13.7 percent from 496,000 MT.

On the contrary, global poultry imports are expected to inch up by 0.75 percent to 15.62 million MT from 15.5 million MT.

“Increases in poultry meat imports are expected for China, Mexico, the European Union, Malaysia, Iraq and Saudi Arabia, as well as South Korea, the Philippines and South Africa, due to high demand for lower-cost meat products and lively food services sales,” FAO said.

Latest data from the Bureau of Animal Industry (BAI) showed  that the Philippines’ overall meat imports dropped by nearly 10 percent to 1.13 billion kilos as of end-October from 1.02 billion kilos in the same period last year.

Pork — which accounted for 49.48 percent of the total volume — saw a 16.94 percent drop in shipments to 504.31 million kilos from 607.14 million kilos a year earlier. 

BAI data also showed beef imports, which accounted for 11.84 percent of the total, slipped by 20.95 percent to 120.64 million kilos from 152.62 million kilos.   

Buffalo imports—which accounted for 3.3 percent of the total—declined by 15.79 percent to 33.65 million kilos from 39.96 million kilos.   

Chicken—the second most imported meat product at 35.25 percent—registered a 9.63-percent rise in imports to 359.23 million kilos from 327.68 million kilos last year. 

Duck imports were maintained at 252,783 kilos, which more than tripled from 78,796 kilos in the same period last year.  

As for turkey, shipments dropped by 5.91 percent to 391,630 kilos from 416,218 kilos last year.