Phl to import less soybean meal from US

Philippine demand for soybean meal from the United States may fall below 2.6 million metric tons (MT) in the current market year due to weaker animal feed demand as local swine production remains challenged by African swine fever.

- By JASPER EMMANUEL ARCALAS

US Soybean Export Council (USSEC) country representative Benito Oliveros said US shipments of soybean meal to the Philippines in market year 2024-2025 are down by nine percent on an annual basis. The US soybean meal market year runs from October to September.

"(Soybean meal imports) would be a little bit lower than (the 2.6 million MT). I hope it is only five percent lower (for the full year)," Oliveros said.

Stronger feed demand from the poultry and dairy sectors are mitigating the drop in swine feed demand, providing support for soybean meal imports, Oliveros explained.

Soybean meal is a critical ingredient of animal feeds as it is a good source of protein and other nutrients for livestock and poultry animals.