PH likely to import more meat this year – FAO

This photo taken on June 29, 2023 shows meat vendors wait for customers at a stall in Commonwealth Market in Quezon City. PHOTO BY ISMAEL DE JUAN

MANILA, Philippines — The United Nations' Food and Agriculture Organization (FAO) said global meat trade will likely expand this year, with the Philippines expected to increase its meat imports due to the extension of reduced tariff.

In its market review, FAO projected the Philippines importing 1.09 million metric tons (MT) of meat and other meat products this year, slightly higher than last year's 1.04 million MT.

"The extension of reduced tariffs on pig meat until the end of 2024 and increased demand for poultry and bovine meats will likely cause imports to grow in the Philippines," FAO said.

It projected the Philippines' meat production to reach over 3.0 million MT this year, up from last year's overall production of 2.9 million MT.

Global meat import was seen to reach 39.8 million MT. China will likely remain as the top importer of the commodity at 8.17 million MT.

FAO said that the expansion of global meat production will likely be led by poultry, which is seen to increase by 1.1 million MT to 146 million.

The increased output will be driven by strong consumer demand for affordable poultry meat and low feed costs, the agency said.