Philippines: Oilseeds and Products Annual

FAS Manila forecasts soybean meal imports in Marketing Year (MY) 2025/26 to increase by 3.1 percent to 3.35 million metric tons (MMT) compared to the previous MY, due to an increase in local feed demand from the broiler, layer, aquaculture, and pet food industries, along with the forecast gradual rebound of the swine industry. Copra crush is forecast to marginally rebound in MY 2025/26 due to better weather conditions, leading to higher coconut oil production. Despite an increase in coconut oil production, FAS Manila forecasts coconut oil exports to remain flat in MY 2025/26, due to an increase in local demand for coconut oil for biodiesel blending. Palm oil imports, a substitute for coconut oil for both cooking and industrial applications, is forecast to increase in MY 2025/26 to supplement supply gaps in coconut oil.