Demand Growing for US Soybean Meal

American soybean meal exports to the country are expected to grow by at least five percent annually over the next five years, driven by growing demand for animal protein, an industry group said.

- Jasper Emmanuel Arcalas

The US Soybean Export Council (USSEC) projected soybean meal exports to the Philippines to grow by an average of five to eight percent annually in volume as local poultry and pork production continue to expand.

"The Philippines recognizes US soy as a key ingredient in animal feed. Soy remains competitively priced, making it a valuable ingredient for producers," Timothy Loh, USSEC regional director for Southeast Asia and Oceania, told The STAR.

"Additionally, lower prices tend to encourage higher purchases, creating a favorable outlook for US soybean meal in the Philippine market," Loh added.