The article highlights two distinct but related developments in the global agricultural sector, with a focus on New Zealand's sheep population and the Philippines' meat import projections for 2025.
In New Zealand, the second quarter of 2024 marked a significant decrease in the country's sheep numbers, marking a decade of continuous decline. This downturn is attributed to various factors, including the conversion of pastureland to forestry and, more recently, weak demand from China and the influx of Australian lamb, leading to a drop in international lamb prices.
Conversely, in the Philippines, the US Department of Agriculture forecasts an increase in the country's meat imports, particularly pork and beef, in 2025. This anticipated rise is due to expected reductions in domestic production, with pig production experiencing a decline in the first half of 2024. Factors limiting pork production include limited land area and high input costs, exacerbated by recent outbreaks of African swine fever.