Spanish beef enters new big Asian market
Spanish beef will compete against Brazil, Ireland and US products to gain a larger share of the Filipino beef market, following the opening of this new Asian market this week. With 106 million inhabitants, the Philippines stands as the second-largest market in South East Asia, following Vietnam. Spanish pork is already present in this market, which is the third-largest market for pork and pork products for the European producers, after China and Japan.
According to OECD data, the Philippines has a self-sufficiency level of beef of 67%, meaning that the deficit in the domestic market reaches 163,000 tonnes and is expected to increase in the following years due to changing habits in consumption. growing population and higher income for its inhabitants. Besides that, the country is confronted with an ongoing ASF outbreak that may also contribute to the switch to other animal protein. Currently, Brazil, Ireland and the United States are the main suppliers of beef to this Asian country.
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