Beef, sheep or goat fat market in the Philippines

Earlier Report Observations

The market for beef, sheep, and goat fats in the Philippines grew substantially from 26 442 t in 2018 to a peak of 38 273 t in 2022. This expansion was fueled by a sharp increase in imports, which more than doubled over the period, reflecting strong domestic demand as the Philippines emerged as a major global importer of these fats. Global price volatility linked to feed costs and weather conditions also likely influenced import volumes during these years.

In 2023, the market contracted sharply to 26 464 t, primarily due to a significant drop in imports, which fell by over 36% from the previous year. Local production remained relatively stable at around 5.8 thousand t throughout the observed period, playing a minor role in the overall market dynamics compared to import flows.

Production beef, sheep or goat fat in the Philippines

In kind, 2017-2020, t

Top producers of beef, sheep or goat fat, 2017-2020

World map of production of beef, sheep or goat fat, 2017-2020

Beef, sheep, and goat fat production in the Philippines declined for the third consecutive year. In 2020, production reached 5 622 tonnes, marking a significant 11.8% decrease compared to 2019. Over the period from 2017 to 2020, production fell by 26.1%, with an average annual decline of 9.6%.

Annual dynamics of production in the Philippines in kind, 2017-2020, t

In value, 2017-2020, K $ US

Beef, sheep, and goat fat production in the Philippines declined for the third consecutive year. In 2020, the output was valued at 12 091 thousand US dollars, representing a solid 11.6% decrease from the previous year. Between 2017 and 2020, production decreased by 29.2%, equating to an average annual decline of 10.9%.

Annual dynamics of production in the Philippines in value, 2017-2020, K $ US

Exports beef, sheep or goat fat from the Philippines

Exports in kind, t

Market performance showed noticeable fluctuations during the period. Exports reached their lowest point in 2019 at 8 tonnes, with the largest decline of 62.5% recorded that year. In 2020, the Philippines exported 30 tonnes of beef, sheep, and goat fat, showing a dramatic 270.0% increase compared to 2019. The peak in 2020 and trough in 2019 resulted in a 3.7-fold fluctuation.

Annual dynamics of product's exports from the Philippines in kind, 2017-2020, t

From 2017 to 2020, beef, sheep, and goat fat exports from the Philippines were primarily oriented towards Thailand, which accounted for 93.4% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from the Philippines in kind, 2017-2020

Exports in value, K $ US

Market performance exhibited noticeable fluctuations during the period. Exports reached their lowest value in 2019 at 18 thousand US dollars, with the largest decline of 65.3% recorded that year. In 2020, the Philippines's beef, sheep, and goat fat exports amounted to 66 thousand US dollars, showing a 271.0% year-over-year increase. The peak in 2020 and trough in 2019 resulted in a 3.7-fold amplitude.

Annual dynamics of product's exports from the Philippines in value, 2017-2020, K $ US

From 2017 to 2020, Thailand effectively concentrated the value of beef, sheep, and goat fat exports from the Philippines, accounting for 92.0% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from the Philippines in value, 2017-2020

Imports beef, sheep or goat fat to the Philippines

Imports in kind, t

Beef, sheep, and goat fat imports into the Philippines increased for the third consecutive year. In 2020, imports reached 31 482 tonnes, constituting a solid 19.9% rise compared to the previous year. Between 2017 and 2020, imports grew by 63.4%, equating to an average annual increase of 17.8%.

Annual dynamics of product's imports to the Philippines in kind, 2017-2020, t

From 2017 to 2020, Australia (42.5% of imports in kind), Ireland (31.6% of imports in kind), and New Zealand (14.5% of imports in kind) were the leading sources in the import structure, jointly accounting for 88.6% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to the Philippines in kind, 2017-2020

Imports in value, K $ US

Beef, sheep, and goat fat imports into the Philippines increased for the third consecutive year. In 2020, imports were recorded at 30 028 thousand US dollars, up by 10.9% compared to 2019. Between 2017 and 2020, imports grew by 77.9%, equating to an average annual increase of 21.2%.

Annual dynamics of product's imports to the Philippines in value, 2017-2020, K $ US

From 2017 to 2020, Australia (43.4% of imports in value terms), Ireland (31.1% of imports in value terms), and New Zealand (13.6% of imports in value terms) were the principal suppliers of beef, sheep, and goat fat to the Philippines, jointly accounting for 88.1% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to the Philippines in value, 2017-2020