Philippines: Lower demand, less processing
The Philippine meat processing industry expects its 2009 production volume to drop by 20% from 2008, reports Asian Agribusiness Group.
While volume is down, higher prices will still mean a growth in sales, albeit a small one at less that 10%, said Francisco Buencamino, Executive Director of the Philippine Association of Meat Processors Inc (PAMPI).
PAMPI had earlier aimed for an 8-10% increase in sales this year, but Buencamino said that “lower purchasing power of Filipinos” has dampened demand which led to lower volumes. He also said that the industry's imports of meat raw materials dropped by as much as 28%.
Source: Asian Agribusiness Group
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