Philippines: Meat Market 2024

Meat Market Size in the Philippines

After six years of decline, the Philippine meat market increased by X% to $X in 2022. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Meat consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Meat Production in the Philippines

In value terms, meat production dropped slightly to $X in 2022 estimated in export price. In general, production continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

In 2022, the average meat yield in the Philippines was estimated at X kg per head, surging by X% on 2021 figures. Over the period under review, the yield, however, continues to indicate a perceptible contraction. Over the period under review, the average meat yield attained the maximum level at X kg per head in 2015; however, from 2016 to 2022, the yield stood at a somewhat lower figure.

In 2022, approx. X heads of animals slaughtered for meat production in the Philippines; picking up by X% compared with 2021 figures. Overall, the number of producing animals, however, recorded a relatively flat trend pattern. Over the period under review, this number attained the maximum level at X heads in 2018; however, from 2019 to 2022, producing animals remained at a lower figure.

Meat Exports

Exports from the Philippines

In 2022, the amount of meat exported from the Philippines stood at X tons, rising by X% on the year before. In general, exports, however, showed a mild curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, meat exports declined to $X in 2022. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Brunei Darussalam (X tons) was the main destination for meat exports from the Philippines, with a X% share of total exports. It was followed by Taiwan (Chinese) (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Brunei Darussalam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and the United Arab Emirates (X% per year).

In value terms, Brunei Darussalam ($X) emerged as the key foreign market for meat exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Brunei Darussalam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The average meat export price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then fell markedly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Meat Imports

Imports into the Philippines

In 2022, supplies from abroad of meat increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports posted a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, meat imports surged to $X in 2022. In general, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Brazil (X tons), Canada (X tons) and Spain (X tons) were the main suppliers of meat imports to the Philippines, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of meat to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Spain (X% per year).

Import Prices by Country

The average meat import price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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