Browse Data and Analysis

FAS Manila forecasts beef imports to remain flat at 200,000 MT Carcass Weight Equivalent (CWE) in 2024 because of low demand for imported beef.

FAS Manila expects rice imports to decline to 3.5 million MT as high prices in the international market and price ceilings ordered by the President disincentivize imports.

Highlight: Beef production and exports in 2024 are projected to increase marginally. Exports at 445,000 tons carcass weight equivalent would be the second highest on record.

This report outlines Philippine government requirements for the importation of food and agricultural products.

Recent developments in cross-border e-commerce expanded Filipino consumers’ access to imported food and beverage products, rising from zero in 2019 to almost $1 million in purchases in 2022.

The Philippines is an emerging market for halal products due to its growing Muslim population.

This report outlines the Philippine government requirements for the importation of corn. It also provides points of contact for key Philippine government authorities.

On June 30, 2023, the Department of Trade and Investment-Board of Investments (DTI-BOI) issued Memorandum Circular (MC) No. 2023-004 or the “Guidelines on the Availment of Duty Exemption/Value-Added Tax and Customs Duty Exemption on Importation of Capital Equipment, Raw Materials, Spare Parts and Accessories under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law."

There are no changes to rice and corn production and imports, nor wheat imports for MY 2023/24.

In 2022, the Philippine baking industry spent roughly $1.5 billion on ingredients, with 77 percent ($1.2 billion) imported. The United States supplied more than 55 percent or $845 million worth of ingredients, mostly wheat.

Post sees the food and beverage retail sector growing six percent more slowly than last year. Retail sales continue accelerating as chains open new outlets while enhancing their imports sections.

FAS Manila lowers 2023 pork production to 925,000 MT on the recent arrival and expansion of African Swine Fever within the top remaining production regions of the Philippines while also lowering imports to 500,000 MT based on trade to-date and high carry-over stocks that are not currently reflected in the balance sheet.