Philippines: Food Processing Ingredients

As factories have effectively returned to pre-COVID operations, food and beverage manufacturers have purchased more food and beverage ingredients to address domestic consumption. However, elevated inflation of near six percent remains the primary driver of food and beverage spending. Although U.S. exporters continue to face challenges of higher logistical costs and tariffs vis-à-vis regional competitors, the Philippines remains the 7th largest market for U.S. agricultural products. The top opportunities for food ingredients include wheat, dairy, beef, pork, chicken, fish, vegetable, fruit, soy, and starch products.