Based on the forecasted data for nonfat dry milk imports in the Philippines, the values grow progressively from 172.0 thousand metric tons in 2024 to 180.0 thousand metric tons in 2028. In 2023, the import value stood at 170.0 thousand metric tons. The year-on-year variation is approximately 1.16%. Over the last two years, the variation is consistent at 1.18%, indicating stable growth. The compound annual growth rate (CAGR) over the last five years (2024-2028) is around 1.15%, reflecting a stable and slow-growing trend in imports.
Future trends to watch for include potential changes in global dairy prices, the impact of trade policies, and shifts in local consumer demand for nonfat dry milk. Additionally, monitoring the influences of local dairy production and climatic conditions will be essential for a more accurate long-term forecast.
