Spain expects another record year for pork exports to the Philippines
Spanish pork exports to the Filipino market are set for another record year, informs the Ministry of Agriculture, Fisheries and Food (MAPA). Last year, Spanish pork exports to the Southeast Asian country reached €98.50 million but, in the last two months of 2021, pork exports to the Philippines have already covered 41% of that figure. Spanish exports of pork meat and offal to the Philippines reached between January and February a total of 26,048 tonnes worth €41.18 million, according to data released by MAPA.
The continuous drop in the Filipino pig inventory is expected to last through the year, according to estimates made by the Philippine Statistics Authority (PSA). The last PSA report, released in April, shows that the national pig inventory has decreased by 24% between 2019 and 2021, from 12.7 million head to 9.72 million. Slaughter figures have decreased by 2.0% and 6.6% for the last two years, while the losses (deaths) reported by the industry 1.173 million head in 2019 (up 15% from 2018) and 1.562 million last year (up 33.2% from the previous year).
In this way, a structural deficit in local pork production is expected that will require an increase in foreign imports to be able to meet domestic demand and contribute to price stabilization and national food security.
In fact, a significant reduction in tariffs on these products along with an increase in minimum access volumes has already been applied by the Filipino government in the last couple of months, followed by several adjustments made to protect the local sector.
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