Under the agreement, the United States will be able to export boneless beef from cattle older than 30 months of age. The estimated value of the Philippines market reopening to boneless beef is $2.5 million annually.
In 2003, the U.S. exported $4.9 million worth of beef and beef products to the Philippines. After the December 2003 discovery of the first case of mad cow disease in the U.S., the Philippines restricted imports of certain kinds of U.S. beef, while allowing imports of U.S. boneless beef from cattle not older than 30 months.
A temporary ban on all U.S. beef imports followed in June 2005 when a second U.S. case of mad cow disease was reported.