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- (-) March 2018
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The Philippines is the largest market for U.S. soybean meal (SBM) and the world’s top coconut oil (CNO) exporter.
The Philippines’ rapidly expanding processed food and beverage industry presents robust opportunities for U.S. exporters of agricultural raw materials and high-value ingredients.
Increased spending and growing dining habits of the emerging middle class in the Philippines have contributed to the growth of the HRI sector by 6.7 percent from 2015 with sales of US$12 billion.
Saudi corn imports in marketing year (MY) 2017/18 are forecast to increase by 15 percent, to about 4 million MT.
Implemented in January 2018, a Philippine tax reform program that cuts personal income taxes should increase disposable incomes and raise food and feed consumption in MY18/19 onwards.