Tridge summary
The Southeast Asia Global Market Report by Genesus has highlighted several key developments in the Philippine pork industry. It notes a rise in the price of select sows, although not uniformly across the country, with some southern provinces experiencing only slight price increases above livestock costs. The report also points out a shift in consumer preference towards domestic pork over imported frozen pork, attributed to marketing campaigns advocating for local production.
Furthermore, the report addresses the issue of increasing animal feed prices, with record highs in corn, wheat, and both types of oil, though temporary relief is anticipated from upcoming soybean meal imports from Argentina. In conjunction with the easing of the Covid-19 epidemic and the anticipated reopening of tourism, pork demand is expected to surge. However, the pork industry faces challenges, including outbreaks of African swine fever in key production areas, which have impacted major manufacturers.
Furthermore, the report addresses the issue of increasing animal feed prices, with record highs in corn, wheat, and both types of oil, though temporary relief is anticipated from upcoming soybean meal imports from Argentina. In conjunction with the easing of the Covid-19 epidemic and the anticipated reopening of tourism, pork demand is expected to surge. However, the pork industry faces challenges, including outbreaks of African swine fever in key production areas, which have impacted major manufacturers.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Genesus said in the Southeast Asia Global Market Report, the price of select sows is also trending up. However, prices in all regions of the Philippines did not increase. Some southern provinces have stable prices only slightly above the cost of livestock. According to data from the Philippine Meat Association (NMIS), 10 months of 2021 the Philippines imported 77,330 tons of frozen pork, down from 82,068 tons in the first 10 months of 2020. Filipinos are now favoring domestic pork over imported frozen meat, the report said, perhaps a result of aggressive marketing efforts by domestic pork to patronize domestic production compared to imported frozen meat, the report said. with imported meat. The price of animal feed is also increasing. Information from Genesus, corn price is at a record high of 24 PHP/kg ($0.48/kg), wheat price also increased. The price of soybean meal is at PHP 55/kg ($1.09/kg), coconut oil and palm oil at PHP 85/kg ($1.69/kg). The Philippines is expected to ...
Source: Vinanet
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