Browse Data and Analysis

FAS Manila forecasts marketing year (MY) 2024 raw sugar production at 1.9 million metric tons (MT). Higher prices encouraged more farmers to plant sugarcane and better fertilization is expected to result in higher production. Post expects limited exports to resume in 2024 given high production and high carryover stocks.

FAS Manila estimates beef production to increase slightly to185,000 MT for 2023 because of efforts of commercial farms to increase production. Beef imports are expected to increase slightly to 260,000 MT in line with population growth.

FAS Manila forecasts MY 2023/24 milled rice production will rebound to 12.55 million MT because of increased government funding to the sector, which is expected to increase fertilizer application. FAS Manila forecasts rice imports flat at 3.6 million MT because of increased local production.

As factories have effectively returned to pre-COVID operations, food and beverage manufacturers have purchased more food and beverage ingredients to address domestic consumption. However, elevated inflation of near six percent remains the primary driver of food and beverage spending.

FAS Manila forecasts copra production at 3 million MT for MY 2023/24 because of the coming El Niño and the break from the 3-year productive cycle. Soybean meal imports are projected to reach 2.9 million MT because of expected expansion in the broiler and aquaculture sectors.

At least 1.25 million poor farmers and 5 million indirect beneficiaries will benefit from Adapting Philippine Agriculture to Climate Change (APA), a $39.3-million project approved to foster climate-resilient agriculture (CRA), and develop the Philippine agriculture sector.

The U.S. has long been the leading supplier of wines to the Philippines and, since 2009, the Philippines has been the largest U.S. wine market in Southeast Asia in terms of volume.

Food retail continues to grow, as retail chains spread across the country. This expansion is being driven by continued strong economic growth, which has led to a boom in consumer spending.

The Philippines is the largest export market in Southeast Asia and the 9th largest in the world for U.S. dog and cat food..

Combined efforts by the Foreign Agricultural Service office in Manila, the USA Dry Pea and Lentil Council, and the North Dakota Trade Office have helped to build a new market for dried legumes.

U.S. agricultural exports to Southeast Asia have experienced extremely rapid growth in recent years and, in FY 2014, they climbed to a record $11.5 billion – up 11 percent from FY 2013.

FAS Manila worked with Veritas Quo (VQ), a California-based exporter representing popular wine brands to connect with several importers.