Growing pig population in the Philippines will boost feed demand
The USDA forecasts a 3% increase in hog production in MY 2023/24, boosting feed demand in the Philippines.
Despite high prices and unresolved ASF issues, the hog rebuilding program is expected to continue to drive growth, albeit moderate. Along with a slight expansion in the poultry and aquaculture sectors, USDA forecasts soybean meal consumption growth of 5% in MY 2024/25.
Soybean meal serves as a major source of protein in all livestock and aquaculture feed formulations, accounting for 15-40% of total raw ingredients, underscoring its importance to the industry.
Read also
Early Rate expires this week – catch up with BLACK SEA OIL TRADE-2025!
Indonesia’s corn export plans spark mixed reactions
Russia pushes for grain exchange within BRICS, but China and India are reluctant –...
Uzbekistan to fully digitalize wheat procurement process
Russia reduced vegetable oil exports by 19% since the beginning of the year
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon