Higher meat imports logged during first four months of 2024

Meat imports grew by 11.3 percent or 397 million kilos during the first four months of 2024 as importers anticipate higher global prices, a weaker peso, and lower hog production due to El Niño.

Data from the Bureau of Animal Industry showed that meat importation from January to April this year surpassed by 41 million kilos the 356 million kilos logged during the same period in 2023.

For April alone, meat imports rose by 35.6 percent at 122.74 kilos. Pork shipments jumped 17.99 percent to 193.15 kilos for the said month, accounting for 48.73 percent of the total meat importation figure.

“Importers are likely positioning in anticipation of higher prices abroad, a weaker peso, as well as lower hog production due to El Niño. It is noteworthy that offal volume decreased, perhaps indicating greater attractiveness of pork meat at the current import duty rate,” said Jesus C. Cham, president emeritus of the  Meat Importers and Traders Association (MITA) to Business World.

The National Economic and Development Authority (NEDA) Board has approved a medium-term plan to lower tariffs on agricultural and industrial products. This included the extension of the reduced-tariff regime on pork imports.

Pork tariffs were retained at 15 percent for shipments within the minimum access volume and 25 percent for those exceeding the quota.

Spain supplied around 50.9 million kilos of pork, followed by Brazil (44.4 million kilos), and Canada (26.2 million kilos) during the period.

Shipments of chicken totaled 134.47 million kilos, making up 33.9 percent of meat imports for the first four months of 2024.

Brazil remained the top supplier of chicken with shipments of 70.5 million kilos, followed by the US (46.6 million kilos), and Australia (5.4 million kilos).

Accounting for 13 percent of the total imports, beef shipments, meanwhile, increased 21.9 percent to 51.53 million kilos. ROSE DELA CRUZ