To combat rising pork prices and stabilize supplies, the Philippine government announced today it will provide more market access for pork imports. Securing better access to the Philippines market has been a top, long-term trade priority for the National Pork Producers Council (NPPC).
“Since 2019, the Philippines has been battling African swine fever (ASF), and as a result, domestic production has declined, supplies have tightened, and pork prices have spiked,” said NPPC President Jen Sorenson, communications director for Iowa Select Farms in West Des Moines, Iowa. “While we are saddened by the spread of ASF in the Philippines, we appreciate the opportunity to send more high-quality U.S. pork to ease the shortage and the spike in prices.”
Under today’s announcement, beginning April 7, tariffs for imported pork under the increased minimum access volume (MAV) of 404,210 metric tons (MT) would be reduced from 30 percent to five percent for the next three months, and then 10 percent thereafter. Tariffs for imported pork above the MAV would be reduced from 40 percent to 15 percent for the next three months, and then increase to 20 percent thereafter. The reductions would be in effect for one year.
This announcement comes on the heels of NPPC’s meeting with the Philippine Ambassador to the U.S. Jose Manuel Romualdez. NPPC has been pressing both the U.S. and Philippines governments to lower pork import tariffs since ASF outbreaks began in the Philippines.
From January-December 2020, the U.S. exported 49,660 MT of pork worth $121 million to the country. The expanded market access is expected to generate significantly more U.S. pork exports to the country. With a population of 109 million and pork as the preferred protein of choice, pork consumption will continue to increase as the economy grows.
The Asia-Pacific region is the fastest growing economic region of the world with significant opportunities for U.S. pork exports. NPPC will continue to advocate for the United States to rejoin the CPTPP trade agreement.
Source: National Pork Producers Council