Brazil, one of the top suppliers of beef in the Philippines, is betting on the country’s rising urban population and growing incomes to drive the expansion of its beef exports, an industry group said in a report by Philstar Biz.
The Brazilian industry group cited the Philippines' growing middle class and increasing demand for protein as key factors that will boost shipments. Brazil already supplies a significant portion of the country's imported beef, and the group expects this trend to continue.
The Philippines' reliance on imported beef, particularly from Brazil, is driven by domestic production not keeping pace with consumption. The group projects that higher urbanization and disposable income will further lift demand for Brazilian beef in the coming years.