Representatives from 27 importer/distributor companies and 16 U.S. Meat Export Federation (USMEF) member suppliers attended a USMEF conference where attendees learned about market conditions and factors affecting red meat supply and demand, foodservice trends and USMEF marketing initiatives. This was followed by a business-to-business session in which participants met individually to discuss red meat trade.

After importing record volumes of pork and beef in 2022, Philippine import levels dropped in 2023, a result of leftover inventories, rising import prices, a weakened currency and inflationary pressures. But 2024 has brought improved market conditions as first-half GDP growth was among Asia’s best. U.S. beef exports through June increased 13 percent in volume to 7,755 mt and 43 percent in value to $64.5 million. U.S. pork exports grew 4 percent to 30,713 mt worth $59 million, a decrease of 12 percent.

The Philippines was the world’s sixth largest pork importer in 2023 as domestic production, still challenged by African swine fever, has also been impacted by drought. The government has again reduced pork import tariffs in its battle against inflation but even with the temporary reductions, the Philippines has some of the highest duties of major pork importers, with most pork assessed a 25 percent out-of-quota rate. U.S. beef is tariffed at 10 percent while beef from Australia and New Zealand enters duty-free under free trade agreements with the Philippines.

“Pork is a critical ingredient in the Filipino diet and demand for high-quality U.S. beef is growing alongside the expansion in modern retail outlets, high-end restaurants, and Korean-style and Japanese-style barbecue chains,” said USMEF Philippines Representative Corky Villalobos. “As the economy grows, demand for grain-fed U.S. beef and pork will continue its long-term growth.”

Funding was provided by the National Pork Board, the Beef Checkoff Program, corn and soybean checkoff programs, USDA’s Market Access Program and Regional Agricultural Promotion Program. The Corn Marketing Program of Michigan is a supporting member of USMEF.