USDA report highlights essential role of U.S. agriculture in Philippines

By Kraipob Pangsapa, SSGA Southeast Asia international representative

The 2024 Food Processing Ingredients Annual report for Manila, Philippines, emphasizes the essential roles of soybeans, wheat, pulses and other grains in the country’s food and beverage sector. Soymeal and soybeans, primarily imported from the U.S. valued at $1.34 billion in 2023, are critical for producing various food items like tofu, soy milk, and meat substitutes, reflecting the growing consumer preference for nutritious and plant-based foods. Wheat also plays a pivotal role in the Philippine food industry, with the U.S. being a major supplier valued at $750 million in 2023. Pulses and other grains aren’t present in significant quantities but have good sales potential. These products are gaining traction due to their nutritional benefits and versatility in developing new vegan, plant-based, non-dairy products. However, challenges such as high inter-island shipping costs and competition from countries with preferential trade agreements persist. U.S. exporters of soybeans, wheat, pulses, and grains are encouraged to leverage local trade shows, marketing programs, and strong partnerships with local distributors and manufacturers to navigate these challenges and capitalize on the growing market opportunities in the Philippines. View the report here.