Philippine pork imports increase sharply

Published Oct 29, 2021

Tridge summary

In October 2021, the Philippines experienced a significant increase in frozen pork stocks, reaching 73,294 tons, an 65.8% rise from the previous year, with 97% of the supply being imported pork. To address concerns of high domestic supply and low prices, President Duterte issued Ordinance EO 133 and 134, which set a higher Minimum Access Volume (MAV) for pork imports and imposed a lower tariff rate. Despite these measures, local pork farmers express dissatisfaction with the large-scale pork imports, particularly given the decline in domestic prices. The Philippines has imported over 439,300 tons of pork in the first nine months of 2021, mainly from Spain, Canada, and the United States, with projections to surpass 500,000 tons for the year.

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

Original content

According to data from the National Meat Federation of the Philippines (NMIS), frozen pork stocks in the Philippines in October 2021 reached 73,294 tons, up 65.8% compared to October 2020, of which imported pork accounted for 97%, reaching 71,528 tons, while domestic pork was only 1,766.3 tons. As part of the government's efforts to reduce prices and stabilize the domestic pork supply, President Duterte has issued Ordinance (EO) 133, which increases the Minimum Quota (MAV) of pork imports. in 2021 to 254,210 tons. Mr. Duterte also signed Ordinance EO 134, which stipulates that pork imported within the quota or under the MAV will be subject to a 10% tariff for three months and increased to 15% for the remaining months. This level is 30% lower than the original level. Out-of-quota pork imports are taxed at 20% for the first three months and will increase to 25% in the remaining months. This is lower than the original tax rate of 40%. Pig farmers in the Philippines are expressing ...

Source: Vinanet