Philippine inventory of imported pork at historic high

Published Oct 3, 2021

Tridge summary

The Philippines is experiencing a record high in its inventory of frozen pork due to a surge in imported pork, as local pork production remains stable amid the African Swine Fever outbreak. The USDA forecasts pork imports to reach 500,000 MT by the end of the year, up from 308,000 MT from January to July 2021. Meanwhile, local production is expected to remain steady at one million MT carcass weight equivalent in 2022, with recovery not expected until 2024 due to uncertainties and the lack of a commercially available ASF vaccine.

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

Original content

The Philippines’ inventory of frozen pork is at historic high amid the continuous entry of imported pork while local pork output remained flat. 36134 Data from the National Meat Inspection Service (NMIS) showed that inventories of frozen pork in accredited cold storages in the Philippines have been reaching historically high levels over the last few weeks. From September 20 to 27, inventories of frozen pork in accredited cold storages in the Philippines stood at 79,390.78 metric tons (MT). While this is slightly lower than the peak of 83,197.70 during the previous week, this is more than a hundred percent from the 39,004.51 MT recorded during the same period last year. From August 8 to 14, frozen pork inventory also peaked at 77,761 MT. The increase in the supply of frozen imported pork, according to United States Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) here in Manila (Post), was brought about by the “intensifying [pressure] on these facilities to ...

Source: Mb