Feb meat imports up 50%
For the second straight month, the Philippines ramped up meat imports by almost 50 percent in February, fueled by stronger demand from food manufacturers and restaurants.
However, the numbers have yet to reflect the possible impact of the Iran war, which broke out on Feb. 28. A ceasefire is currently in place.
Traders had imported 148.26 million metric tons (MT) of meat in February, up 48.3 percent, said the Bureau of Animal Industry.
Meat purchases totaled 292.11 million MT.
Pork imports climbed by 43.3 percent to 76.82 million MT. It accounted for 51.8 percent of meat imports.
“Pork imports continue their upward trajectory, reflecting sustained importer confidence,” Meat Importers and Traders Association President Emeritus Jesus Cham said.
Chicken imports grew by 55.4 percent to 49.22 million MT, or 33.2 percent of total.
“MDM (mechanically deboned meat) growth of 25 percent [point] to stronger processing demand, while higher volumes of chicken cuts suggest optimism in the food service sector. Notably, whole chicken imports expanded tenfold, albeit from a low base,” Cham said. INQ
Cham said beef imports, which rose by 43.8 percent to 17.96 million MT, mostly came from emerging South American suppliers, including Argentina, Paraguay and Uruguay.
He also noted that beef fat imports surged by nearly 50 percent, indicating higher demand from processors.
“However, total beef volume shows only a marginal increase on a year-to-date basis,” added Cham.
As for buffalo, Cham said processors were preparing for increased production as imports soared by over 113 percent to 4 million MT.
“Buffalo imports nearly doubled compared with the same period last year. Together with the rise in beef fat, this reinforces the view that processors are gearing up for expanded production,” Cham said.
“Duck imports—particularly whole duck—continue to enter in unusually large volumes, possibly reflecting efforts to develop and establish a new market segment,” he added.
Brazil retained its position as the country’s top source of imported meat, cornering a market share of 96.1 percent.
The United States came second with 23.5 percent. Spain ranked third with 14.99 percent.
