Philippines: Oilseeds and Products Annual
The Philippines is the largest market for U.S. soybean meal (SBM) and the world’s largest coconut oil (CNO) exporter. SBM imports are forecast to reach 2.5 MMT in MY 16/17, driven by the continued consolidation and growing sophistication of the domestic feed-consuming industries, alongside significant industry investment in feed grain distribution infrastructure. From 890,000 MT in MY 14/15, CNO exports are forecast down 16 percent to 750,000 MT in MY 15/16 due to lingering effects of dry conditions brought about by the EL Nino weather disturbance, as well as typhoon-related damages in CY 2015. CNO exports are expected to modestly recover in MY 16/17 as a return to more “normal” weather conditions is expected.
