Philippines: Preserved Pork Market 2021

Preserved Pork Market Size in the Philippines

In 2020, the Philippine preserved pork market decreased by -X% to $X, falling for the third consecutive year after eight years of growth. Over the period under review, the total consumption indicated tangible growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2011 when the market value increased by X% against the previous year. Preserved pork consumption peaked at $X in 2017; however, from 2018 to 2020, consumption remained at a lower figure.

Preserved Pork Production in the Philippines

In value terms, preserved pork production contracted slightly to $X in 2020 estimated in export prices. Overall, the total production indicated a notable increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production decreased by -X% against 2017 indices. The pace of growth was the most pronounced in 2011 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2020, production failed to regain the momentum.

Preserved Pork Exports

Exports from the Philippines

In 2020, overseas shipments of pig meat salted (salted, in brine, dried or smoked) increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, faced a deep contraction. The growth pace was the most rapid in 2019 when exports increased by X% year-to-year. Over the period under review, exports reached the maximum at X tons in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

In value terms, preserved pork exports reached $X in 2020. Over the period under review, exports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when exports increased by X% y-o-y. Exports peaked at $X in 2007; however, from 2008 to 2020, exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for preserved pork exports from the Philippines, accounting for a X% share of total exports. Moreover, preserved pork exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bahrain (X tons), sevenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-X% per year) and Qatar (-X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for preserved pork exports from the Philippines, comprising X% of total exports. The second position in the ranking was occupied by Bahrain ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-X% per year) and Qatar (-X% per year).

Export Prices by Country

The average preserved pork export price stood at $X per ton in 2020, flattening at the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates, while the prices for the other major destinations experienced mixed trend patterns.

Preserved Pork Imports

Imports into the Philippines

In 2020, overseas purchases of pig meat salted (salted, in brine, dried or smoked) decreased by -X% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2010; however, from 2011 to 2020, imports stood at a somewhat lower figure.

In value terms, preserved pork imports dropped notably to $X in 2020. Overall, imports enjoyed slight growth. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Canada (X tons), Australia (X tons) and the UK (X tons) were the main suppliers of preserved pork imports to the Philippines, with a combined X% share of total imports. France, the U.S. and Spain lagged somewhat behind, together accounting for a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved pork suppliers to the Philippines were Australia ($X), Spain ($X) and the U.S. ($X), with a combined X% share of total imports.

The U.S. recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average preserved pork import price stood at $X per ton in 2020, jumping by X% against the previous year. Over the period under review, the import price enjoyed a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Spain ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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