Philippines: Meat And Poultry Market 2024

Meat And Poultry Market Size in the Philippines

The Philippine meat and poultry market rose notably to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the immediate term.

Meat And Poultry Production in the Philippines

In value terms, meat and poultry production reduced to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

The average yield of meat and poultry in the Philippines rose slightly to X kg per head in 2022, picking up by X% against the previous year. In general, the yield, however, showed a pronounced decline. Over the period under review, the average meat and poultry yield hit record highs at X kg per head in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure.

In 2022, approx. X heads of animals slaughtered for meat and poultry production in the Philippines; stabilizing at the previous year's figure. This number increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, this number attained the peak level at X heads in 2019; afterwards, it flattened through to 2022.

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Meat And Poultry Exports

Exports from the Philippines

In 2022, shipments abroad of meat and poultry increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a dramatic downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, meat and poultry exports surged to $X in 2022. In general, exports, however, recorded a dramatic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Japan (X tons) and Brunei Darussalam (X tons) were the main destinations of meat and poultry exports from the Philippines, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for meat and poultry exported from the Philippines were Japan ($X), the United Arab Emirates ($X) and Brunei Darussalam ($X), together comprising X% of total exports.

In terms of the main countries of destination, Brunei Darussalam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average meat and poultry export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, meat and poultry export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

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 Japan ($X per ton), while the average price for exports to India ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Meat And Poultry Imports

Imports into the Philippines

In 2022, imports of meat and poultry into the Philippines soared to X tons, growing by X% on the year before. Over the period under review, imports posted a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, meat and poultry imports surged to $X in 2022. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest meat and poultry supplier to the Philippines, accounting for a X% share of total imports. Moreover, meat and poultry imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Canada (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Canada (X% per year).

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

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

Import Prices by Country

In 2022, the average meat and poultry import price amounted to $X per ton, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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