The United States Department of Agriculture’s Foreign Agricultural Service reported that US agricultural exports reached a record high of $196.4 billion in 2022, up $24.7 billion over the previous record in 2021.
In 2021, the Philippines ranked No. 9 among US agricultural export markets with total export value at $3.6 billion and with a three-year average of $3.28 billion.
This makes the Philippines a major destination of American farm products.
The top 10 American exports were soybean meal; wheat; dairy products; pork and pork products; poultry meat and products; food preparations; processed vegetables; other feeds, meals and fodders; beef and beef products; and soybeans.
The Philippines is in all the Top 10 destinations of American agricultural products — except for food preparations; other feeds, meals and fodders; beef and beef products; and soybeans.
In 2021, the Philippines was the No. 1 destination for soybean meal worth $975.7 million.
Soybean meal is used in food and animal feeds, primarily as a protein supplement.
It is the second biggest market for wheat worth $885.44 million, just behind Mexico and ahead of China and Japan. Wheat is used principally to make flour for bread, pasta and pastries.
Filipinos are the largest consumers of dairy products, importing $430.37 million — after Mexico, Canada, and China and ahead of South Korea, Japan, and Indonesia.
The country is the seventh top importer of pork and pork products, worth $205.45 million in 2021 — after Japan, China, Mexico, Canada, South Korea, and Colombia.
It is also the seventh largest market for poultry meat and products worth $146.21 million — after Mexico, China, Canada, Cuba, Guatemala, and Taiwan.
The country is the fifth top market for processed vegetables worth $95.77 million — after Canada, Mexico, Japan, and South Korea.
In fiscal year 2022, the United States exported a record $196 billion of US agricultural products. China, Canada, Mexico, Japan, and the European Union were the top five markets for U.S. food and agriculture exports.
All five markets saw record export values in fiscal year 2022. The top agricultural export commodities — including soybeans, corn, and beef — also increased export values, setting records.
