THE United States’s pork exports to the Philippines from January to April more than tripled to 39,673 metric tons (MT) driven by higher volume of pork muscle cut, which benefited from lower tariff rates, the US Meat Exporters Federation (Usmef) said.
“Pork exports to the Philippines soared again in April, bolstered in part by temporary tariff rate reductions that took effect April 17,” the Usmef said in a recent statement.
Citing US Department of Agriculture (USDA) data, Usmef said US pork exports, which includes variety meats like offal, to the Philippines surged by 258 percent to 39,673 MT from 11,082 MT recorded in the January-to-April period of last year.
Value-wise, total pork exports to the Philippines in the four-month period rose by 270 percent to $99.531 million from last year’s $26.871 million, according to Usmef.
The Usmef noted that the tariff reduction imposed by the Philippines only applies to pork muscle cuts, “a category in which US exports were already up dramatically in 2021.”
The Philippines lowered its pork tariff rates to as low as 10 percent as a part of the Executive’s twin measure to boost domestic pork supply and pull down rising pork retail prices.
“Through April, pork muscle cut shipments to the Philippines increased 404 [percent] to 33,128 mt, with value up 325 [percent] to $88.3 million,” the Usmef said.
The Usmef noted that higher pork shipments to the Philippines contributed to the overall growth in the US’s total pork exports during the reference period. In April alone, USDA data compiled by the Usmef showed that total US pork exports to the Philippines expanded by 514 percent to 14,296 MT from 2,326 MT last year.
The six-fold increase in shipments resulted in a 502-percent increase in the value of pork exports during the month which reached $37.13 million.
Excluding pork variety meat, the US pork muscle cut exports to the Philippines in April ballooned by 613.5 percent to 12,472 MT while its value rose by 525 percent to $34.149 million, USDA data compiled by the Usmef showed. In April, the Usmef told the BusinessMirror that the US is in a good position to supply the additional pork import requirement of the Philippines this year.
The Usmef said the US “is well poised to help fulfill any surge in import demand” from the Philippines. (Related story: https://businessmirror.com.ph/2021/04/20/us-meat-exporters-say-ready-to-supply-more-pork-to-phl/)
The Usmef explained that the US pork production this year is expected to grow by 1.3 percent, which is equivalent to an additional output of 170,000 metric tons (MT). That volume, the group noted, is “approximately the total volume of pork the Philippines imported from all suppliers last year.”
“In short, supply is adequate,” the Usmef told the BusinessMirror.
And even if China’s pork imports this year are forecast to remain “very large,” the Usmef said additional imports from the Philippines “should not put any great strain on global supplies” as there is available pork in the world market.