Report: Vietnam and the Philippines anticipate growth in pork demand
The National Pork Board says there are growing export opportunities in Vietnam and the Philippines. A report funded by the Pork Checkoff and USDA’s Foreign Agricultural Service shows African swine fever has impacted both countries’ pork industries and supply chains prompting demand growth in imported pork over the next decade.
“The annual Pork Checkoff producer survey identified diversification of U.S. pork exports as a top priority,” said Norman Bessac, vice president of international marketing for the Checkoff, quoted in a National Pork Board news release. “These reports will help exporters position the U.S. pork industry as a supplier of choice in both countries, helping to expand our export options and create even greater value for the more than 60,000 pig farmers here.”
As the two countries recover from COVID-19 and ASF outbreaks, pork consumption and import demand will increase, according to the research. This projected increase is counter to other key markets, where pork consumption is expected to shrink by 2030. The predicted growth is based on the rise in the middle classes and pork’s popularity in Vietnamese and Filipino cuisines.
Pork consumption in Vietnam has more than tripled in the last 20 years and its economy is growing faster than China’s. Filipino pork consumption is 40 pounds annually per capita.