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America might export extra pet meals and processed potato merchandise like French fries to the Philippines as a result of rising demand, in response to an company of the US Division of Agriculture (USDA).
A report printed not too long ago by the USDA Overseas Agricultural Service (USDA-FAS) indicated that consumer-oriented US merchandise—starting from meat and poultry merchandise to meals preparations, reminiscent of flavorings and dietary supplements—have a “excessive potential” for export progress within the Philippines.
In its report titled “Worldwide Agricultural Commerce,” the USDA-FAS stated US exports of pet meals to the Philippines would proceed to rise because it expects pet possession within the nation to extend.
“US pet meals exports have not too long ago surged worldwide, particularly to markets in Asia. Exports to the Philippines rose by 38 p.c to $51 million in 2021 and can seemingly proceed to rise as pet possession will increase,” the report learn.
The famous that the US could proceed to capitalize on rising demand within the Philippine meals and beverage manufacturing sector for meals preparations, reminiscent of flavorings, mixtures and dietary supplements.
“US exports of meals preparations —together with flavorings, mixtures, and dietary supplements—reached $110 million in 2021 after constant progress during the last decade, an indicator of rising demand in meals and beverage manufacturing.”
The USDA-FAS indicated that export alternatives for meat merchandise within the Philippines might be pushed by the rising revenue of Filipinos as native manufacturing can not meet the nation’s whole animal protein demand.
“US meat and poultry product exports elevated considerably lately to make up for shortfalls in home pork manufacturing associated to African swine fever,” it stated.
“Future progress might be pushed by rising disposable incomes and a shift in protein preferences away from seafood.”
US exports of dairy merchandise to the Philippines would all the time have “robust prospects” since 99 p.c of the nation’s dairy provide is imported, in response to the report.
“US dairy product exports, significantly milk powder utilized in meals manufacturing, will all the time be robust prospects, as a result of the Philippines depends on imports for round 99 p.c of its dairy consumption.”
The report additionally sees a resurgence in imports of French fries and potato chips from the US because the Philippines’s financial system continues to get better from the Covid-19 pandemic following the easing of mobility restrictions.
The report famous that the US stays because the Philippines’s high provider of processed potato merchandise regardless of dealing with greater tariff charges and stiff competitors from India and China, who take pleasure in duty-free entry.
“US processed potato exports, together with frozen French fries and potato chips, have been rising steadily for a few years. Demand for frozen French fries declined in 2020 from the impact of Covid-19 on eating places, however exports have since recovered to earlier ranges.”
The Philippines is the eight largest market of the US for agricultural exports, with whole worth reaching a record-high of $3.5 billion final yr, in response to the report.
“Exports elevated 11 p.c over 2020, surpassing Vietnam, and making the Philippines the highest marketplace for US merchandise in Southeast Asia for the primary time since 2015,” it stated.
“Regardless of tariff and logistical disadvantages, the US has lengthy been the highest provider of agricultural merchandise to the Philippines, in comparison with neighboring suppliers in Asia.”
The report famous that consumer-oriented merchandise had been the biggest class of the US agricultural exports to the Philippines final yr. It added that exports of US consumer-oriented merchandise to the Philippines final yr grew 23-percent year-on-year to $1.4 billion.
“The Philippines has been the highest Southeast Asian vacation spot for US consumer-oriented merchandise since 2006,” it stated.
“High merchandise on this class embody dairy merchandise ($437 million), pork and pork merchandise ($204 million), and poultry meat and merchandise ($147 million, excluding eggs).”
Picture credit: Daniel Acker/Bloomberg
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