Monks, Iowa – New reports from the National Pork Board (NPB) and the Pork Checkoff identified Vietnam and the Philippines as emerging markets for US pork exports.
The results are based on research by Gira, a global research company funded by the Pork Checkoff and the Emerging Markets Program of the U.S. Department of Agriculture’s Foreign Agricultural Service. The ongoing difficulties with African swine fever (ASF) across Asia and in the pork supply chains of the two countries were reasons the reports cited as a place for exporting products.
“The annual survey of pork checkoff manufacturers found that diversifying US pork exports is a top priority,” said Norman Bessac, vice president of international marketing for Pork Checkoff. “These reports will help exporters position the US pork industry as the preferred supplier in both countries, expand our export options and create even greater value for the more than 60,000 pig farmers here.”
Gira’s research indicated that pork consumption and import demand will increase in both Vietnam and the Philippines in the near future. They also forecast an increase in demand as pork consumption in other markets around the world will decrease by 2030.
“The projected growth in these two markets is based on the rise of the middle class and the popularity of pork in Vietnamese and Filipino cuisines,” Gira said in his report.
Since 2000, pork consumption in Vietnam has more than tripled. Gira / NPB reports also state that a larger part of the country’s population is moving from rural areas to cities in order to receive higher wages. This leads to an increased demand for pork.
In the Philippines, the total population continues to grow and also move to urban areas, with much of the Filipino population expected to move to cities by 2028.
In addition, Gira forecast that Vietnam will only recover to the level of pork production before ASF after 2025. The Philippines is also not expected to recover from ASF until after 2030.
“These reports show the Checkoff’s commitment to listening to producer feedback, gathering market insights, and implementing programs to add value to US pork producers through exports,” said Curtis Meier, an Iowa pork producer . “Exports are one of the greatest opportunities for the future success of our industry, but it is also our greatest risk if we rely too heavily on some international markets.”
The full report on Vietnam and the Philippines can be found here.