‘Rise in meat imports may not translate to lower prices’

MANILA, Philippines — The country’s meat imports from January to August climbed to more than 900,000 metric tons (MT) as shipments for the holiday season have started to arrive, especially delayed orders from previous months, causing profit concerns on some traders and importers.

Bureau of Animal Industry (BAI) data showed that meat imports from January to August reached 907,771 MT, about 11 percent higher than the 817,353 MT recorded in the same period of last year.

The Meat Importers and Traders Association (MITA) attributed the increase in to the arrival of shipments that were ordered in the previous months but delayed by global logistical woes.

“The August data is showing arrivals catching up and ample supply is becoming available for the coming season,” MITA president emeritus Jesus Cham said.

Cham cautioned that the sudden arrival of all the imported meat products is squeezing the liquidity of some industry players, forcing them to sell their items below landed costs.

However, the lower wholesale prices may not be passed on to consumers as other players in the value chain could keep the gains, especially since the market is anticipating higher prices in the current quarter, Cham said.

Data showed that half of the total meat import volume during the eight-month period was pork products.

Pork imports reached 450,361 MT, up by nearly 11 percent from 405,915 MT last year, based on BAI data.

Meanwhile, chicken meat imports continue to rise steadily, posting a four percent increase to 302,028 MT in the first eight months from a year ago.

“Pork and poultry continue to be in demand due to scarcity of local production,” Cham said.

Beef imports jumped by 36 percent on an annual basis to 125,016 MT as consumers continue to shift to the meat product amid elevated domestic pork prices, Cham added.

“Beef is offering better value for money,” he said.