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- (-) October 2021
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The Philippines imports 99 percent of its dairy requirement as domestic production cannot meet the annual demand of 2.9 million metric tons (MT) liquid milk equivalent, according to the National Dairy Authority (NDA).
Post maintains Marketing Year 2021/22 (September/August) sugar production at 2.1 million MT, 2 percent lower than the previous year.
Post expects the Philippine food service sector to shrink by a further 13 percent to $7.4 billion in 2021, following its 44 percent decline in 2020. With the spread of the Delta variant of COVID-19, people are hesitant to return to restaurants.
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.