Report Name:Philippine Broiler Market Trends and Prospects
Voluntary Report – Voluntary - Public Distribution Date: March 31,2020 Report Number: RP2020-0035 Report Name: Philippine Broiler Market Trends and Prospects Country: Philippines Post: Manila Report Category: Poultry and Products, Product Brief Prepared By: Approved By: Ryan Bedford Report Highlights: Boosted by rising incomes, a growing middle class, and robust demand in food service and retail, the Philippine broiler sector has surged over the past decade and is set to continue in the coming years. The United States Department of Agriculture (USDA), Foreign Agricultural Service (FAS) in Manila, Philippines commissioned the University of Asia and the Pacific (UA&P) to conduct a broad study on the Philippine broiler market, emerging trends, and prospects for future growth. THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Introduction The Philippines is a fast-growing emerging market with a service-based economy and a population of 109 million in a combined landmass the size of Arizona. With increasing incomes and a burgeoning middle class, Filipinos are consuming more protein while also showing increasing preference for poultry. While pork had traditionally been the main protein source for Philippine diets, in 2019, chicken overtook pork for the first time in per capita consumption. As such and despite still present market access constraints limiting access to U.S. corn and poultry products, the Philippines continues to present long-term growth prospects for U.S. suppliers throughout the value chain, including in the form of agricultural inputs to support local poultry production, ingredients used by the local meat processing industry, and finished, consumer-ready products sold to retailers and food service providers.
[Show full text]