The latest report from the United States Department of Agriculture (USDA) forecasts an increase in beef and pork imports for the Philippines next year.
The Foreign Agricultural Service (FAS) Manila estimates that beef imports, including carabeef (carabao beef), and pork will reach 226,000 and 510,000 metric tons (MT) of carcass weight equivalent (CWE), respectively.
The increase in beef imports is attributed to continued economic growth exceeding six percent and strong consumer purchasing power, driven by the projected population increase.
“Also supporting increased imports in 2025 are the recent downward trend in the export prices of the Philippines’ major export suppliers, specifically Australia and Brazil, and expanded market access provided to Brazil through Department Order (DO) 3,” the USDA report stated.
However, beef production, including carabeef, is expected to remain "relatively stagnant" due to "flat cattle and carabao inventories."
Pork production is estimated to rebound to 1.06 million MT CWE. However, FAS Manila noted that output will remain below pre-African Swine Fever (ASF) levels through 2025.
Positive cases of ASF in the country are expected to limit herd rebuilding and pork production for the rest of this year and into early next year.
As for costs, beef and pork prices are expected to continue rising next year due to stronger local demand.