Philippines
In a significant development for the U.S. pork industry, the Philippines has announced the extension of reduced tariff rates on imported pork through the end of 2024.
As the Philippines conducts a review of its import tariffs, the U.S. Meat Export Federation is using the opportunity to encourage tariff relief for U.S. pork, which has been done previously in 2021 and 2022.
U.S. red meat suppliers met face-to-face with buyers from the Philippines and Vietnam, adding a personal connection between USMEF members and exporters with importers and processors.
Recognized as one of the greatest opportunities of U.S. red meat exports, trade talks gear up to address the Indo-Pacific Economic Framework. USMEF shares its comments on the pillar of resilient trade.
A Philippines bank is working with the Department of Agriculture and hog industry stakeholders in the country to increase pork production to meet consumer demand and stabilize prices of the popular meat.
Bottom line: There’s a big opportunity for the U.S. pork industry in Asia. NPPC’s Maria Zieba joined Chip Flory on AgriTalk to discuss the recent announcement from the Philippines.
The Philippine government announced it will provide more market access for pork imports to combat rising pork prices and stabilize supplies.
The Philippines is aiming to triple pork imports this year, the agriculture minister said, after domestic prices jumped more than 50% from a year earlier as African swine fever decimated hog populations.
The Philippines is investigating a rise in pig deaths in some areas for the deadly African swine fever virus, although no cases have been confirmed yet.