Report Highlights: The U.S. continues to be the Philippines’ number one supplier of agricultural products, and the Philippines is its 10th largest global market. Sales of U.S. agricultural exports to the Philippines declined 15 percent to $2.3 billion in 2015 due to the strong U.S. dollar, distribution challenges and intense competition. The top five U.S. exports by value were soybeans & soybean meal; wheat; dairy products; prepared food; and pork & pork products. Traders forecast export sales in 2016 will increase five percent to $2.4 billion because of increased consumer confidence in the overall state of the Philippine economy. Consumer-oriented food & beverage products remain the best prospects for future export growth fueled by consumer familiarity with American brands and the steady expansion of the country’s retail, foodservice and food processing sectors.
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