(NAFB) – The Philippines extended reduced tariff rates on imported pork for the third consecutive year.

The in-quota duty remains 15 percent, while the out-of-quota rate is 25 percent. Under the lower tariffs and higher access volume, U.S. pork exports to the Philippines increased to a record $205 million in 2021, a 79 percent hike. But after the increased quota amount expired on January 31, 2022, exports fell that year to about $135 million, and for 2023 they will likely be around $120 million.

The National Pork Producers Council says the Philippines is an important Asian market for America’s pork industry. With more than 109 million people and a cultural preference for pork, the island nation is a top ten market for U.S. pork exports. In May 2021, in response to a pork shortage caused by African Swine Fever, the Philippines first lowered the import duties and increased the minimum access volume.