Philippine beef prices to continue to rise
Beef consumption expected to rise
29 August 2024
1 minute read
By: The USDA Foreign Agricultural Service post in Manila forecasts beef and carabeef prices to continue to increase moderately in 2025 as the Philippines’ consumption of beef increases, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report.
Farmgate and retail prices for cattle, beef, and carabeef have generally been stable over the year from February 2023 to February 2024. Carabao prices have increased year-on-year due to increased demand for carabao for slaughter in the face of a reduction in imports of carabeef. Indian shipments to the Philippines are down 9% in the first five months of 2024 compared to the same period in 2023 as meat processors, particularly corned beef processors, report shifting to other meat inputs.
