US April pork exports to Southeast Asia climb
Led by larger shipments to the Philippines, Malaysia and Vietnam, US April pork exports to the ASEAN reached 7,669 mt, up 15% from a year ago, valued at $16.3 million (up 7%), according to data released by USDA and compiled by USMEF.
For January through April, exports to the region increased 9% from a year ago to 22,480 mt, though value fell 5% to just under $50 million.
Most US pork enters the Philippines at a 25% duty, which is lower than the normal out-of-quota rate of 40%. This reduced rate is set to expire at the end of 2024, but Philippine President Ferdinand Marcos Jr. is currently weighing a proposal that would extend the rate reduction through 2028.
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