Philippines: Food Service - Hotel Restaurant Institutional

Post expects the Philippine food service sector to shrink by a further 13 percent to $7.4 billion in 2021, following its 44 percent decline in 2020. With the spread of the Delta variant of COVID-19, people are hesitant to return to restaurants. Recent lockdown measures to contain the pandemic have triggered further losses on on-premises sales. Most food service providers remaining in operation have shifted to online delivery platforms and curbside pickups. Larger chain restaurants have made inroads by selling ready-to-cook meals at retail stores. Despite reduced food service sales and strong competition from other suppliers, U.S. consumer-oriented agricultural exports to the Philippines are set for a record year, with trade up 35 percent to $840,000 through July 2021.