Philippines: Preserved Beef Market 2024

Preserved Beef Market Size in the Philippines

The Philippine preserved beef market fell to $X in 2023, with a decrease of X% against the previous year. In general, consumption, however, enjoyed a strong increase. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Preserved Beef Production in the Philippines

In value terms, preserved beef production shrank to $X in 2023 estimated in export price. In general, production, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2023, production growth remained at a lower figure.

Preserved Beef Exports

Exports from the Philippines

In 2023, preserved beef exports from the Philippines stood at X tons, leveling off at 2022. In general, exports saw a significant contraction. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, preserved beef exports amounted to $X in 2023. Overall, exports recorded a significant curtailment. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Qatar (X tons) was the main destination for preserved beef exports from the Philippines, accounting for a X% share of total exports. Moreover, preserved beef exports to Qatar exceeded the volume sent to the second major destination, the United States (X tons), fivefold. New Zealand (X kg) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Qatar amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and New Zealand (X% per year).

In value terms, the largest markets for preserved beef exported from the Philippines were Qatar ($X), the United States ($X) and New Zealand ($X), with a combined X% share of total exports.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average preserved beef export price stood at $X per ton in 2023, remaining stable against the previous year. Overall, the export price saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%).

Preserved Beef Imports

Imports into the Philippines

In 2022, imports of beef and veal (salted, in brine, dried or smoked) into the Philippines reduced remarkably to X kg, waning by X% against the year before. Overall, imports recorded a sharp reduction. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, preserved beef imports contracted significantly to $X in 2022. In general, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Norway (X kg), the United States (X kg) and Japan (X kg) were the main suppliers of preserved beef imports to the Philippines.

From 2013 to 2022, the biggest increases were recorded for Norway (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Norway ($X) constituted the largest supplier of beef and veal (salted, in brine, dried or smoked) to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of value from Norway stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

Import Prices by Country

The average preserved beef import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price continues to indicate a resilient expansion. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform