Philippine beef imports expected to increase 3% in 2024
Population growth, positive economic growth cited as drivers
30 August 2024
1 minute read
By: The USDA Foreign Agricultural Service post in Manila forecasts 2025 beef imports to increase to 226,000 MT CWE, a near 3% increase from 2024, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report.
Population growth and a positive economic outlook buoyed by falling international prices, especially for the Philippines’ main beef suppliers will push beef imports higher in 2025.
Falling prices during 2024 have supported double digit increases in exports (2024 year-to-date) from Australia, Brazil, the EU, New Zealand, and the United Kingdom. Meanwhile, during the same period, Indian prices have not declined and therefore exports to the Philippines have fallen. Additionally, the 2024 beef import estimate is revised to 220,000 MT CWE, due to stronger than expected imports in the first half of the year.
The March 2024 publication of DO 3 provided system accreditation to Brazil allowing all beef, pork, and poultry plants to export to the Philippines. Since in the past exporters were approved individually, systems accreditation will increase the ability of Philippine importers to source beef from Brazil.
