US suppliers and buyers review market opportunities in the Philippines

Published 2024년 8월 23일

Tridge summary

The U.S. Meat Export Federation (USMEF) held a conference and product showcase to discuss market and trade opportunities with Philippine importers and suppliers. The event was attended by representatives from 27 importer/distributor companies and 16 USMEF member suppliers. The Philippines imported record volumes of pork and beef in 2022, but levels dropped in 2023 due to various factors. However, market conditions improved in 2024, leading to increased U.S. beef exports. The Philippines, struggling with African swine fever and drought, was the world's sixth-largest pork importer in 2023. The USMEF remains optimistic about the growth in demand for high-quality U.S. beef and pork in the Philippines as the economy expands.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Philippine importers and U.S. Meat Export Federation member suppliers recently discussed market and trade opportunities at the USMEF Conference and Product Showcase. Representatives from 27 importer/distributor companies and 16 USMEF member suppliers attended a USMEF conference where attendees learned about market conditions and factors affecting red meat supply and demand, foodservice trends and USMEF marketing initiatives. This was followed by a business-to-business session in which participants met individually to discuss red meat trade. After importing record volumes of pork and beef in 2022, Philippine import levels dropped in 2023, a result of leftover inventories, rising import prices, a weakened currency and inflationary pressures. But 2024 has brought improved market conditions, as first-half GDP growth was among Asia’s best. U.S. beef exports through June increased 13% in volume to 7,755 mt and 43% in value to $64.5 million. U.S. pork exports grew 4% to 30,713 mt worth ...

Source: Provisioner