Philippine soybean meal imports may rise 10% in 2027

The Philippines’ soybean meal imports could increase by 10% in 2027 compared with the previous year, reaching 3.85 mln tons against 3.5 mln tons in 2026, according to a forecast by the US Department of Agriculture (USDA). The main driver of higher purchases will be growing demand for feed ingredients from the country’s poultry industry.

USDA raised its forecast for Philippine soybean meal imports by 200 thsd tons from its previous estimate of 3.65 mln tons. The upward revision reflects improved domestic consumption prospects. The country’s poultry industry is expected to expand by nearly 6% in 2027, stimulating the use of soybean meal as one of the main protein sources in compound feed.

The Philippines remains the largest export market for US soybean meal. According to USDA, at the beginning of the new marketing year, which started on October 1, outstanding export sales exceeded the five-year average by 118 thsd tons. This indicates strong demand for US products among Philippine importers.

Meanwhile, the US is preparing for record soybean meal exports. According to USDA forecasts, shipments could reach 20.6 mln tons in 2027, while outstanding export sales have already reached 5.1 mln tons, exceeding last year’s level. US soybean meal production is expected to increase by 5%, supported by a larger soybean crop, high crushing volumes and steady demand for soybean products.

Growing supplies and more competitive prices are expected to boost US soybean meal exports by 11% in 2027. At the same time, expansion of the Philippine poultry industry will support import demand for feed ingredients. Soybean meal remains an important component of compound feed for poultry, livestock and aquaculture, making the further development of these sectors a key factor in future import demand.

Tags: Philippines, soybean meal, imports