Philippines - Rice - Market Analysis, Forecast, Size, Trends and Insights
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Rice Market Size in the Philippines
The Philippine rice market expanded to $X in 2023, surging by X% against the previous year. Overall, consumption, however, showed a noticeable decrease. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market failed to regain momentum.
Rice Production in the Philippines
In value terms, rice production stood at $X in 2023 estimated in export price. In general, production, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2023, production growth remained at a somewhat lower figure.
The average yield of rice in the Philippines reached X tons per ha in 2023, standing approx. at the year before. In general, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the average rice yield reached the peak level at X tons per ha in 2021; however, from 2022 to 2023, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The rice harvested area in the Philippines amounted to X ha in 2023, standing approx. at the previous year. In general, the harvested area saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the harvested area increased by X%. As a result, the harvested area attained the peak level of X ha; afterwards, it flattened through to 2023.
Rice Exports
Exports from the Philippines
After four years of growth, overseas shipments of rice decreased by X% to X tons in 2023. Overall, exports showed a mild contraction. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2023, the growth of the exports failed to regain momentum.
In value terms, rice exports shrank significantly to $X in 2023. In general, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.
Exports by Country
Bangladesh (X tons) was the main destination for rice exports from the Philippines, accounting for a X% share of total exports. Moreover, rice exports to Bangladesh exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. The third position in this ranking was taken by Qatar (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Bangladesh stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Qatar (X% per year).
In value terms, Bangladesh ($X), Saudi Arabia ($X) and Qatar ($X) appeared to be the largest markets for rice exported from the Philippines worldwide, with a combined X% share of total exports. The United Arab Emirates, Kuwait, Oman, Bahrain, the United States, Hong Kong SAR and Vietnam lagged somewhat behind, together comprising a further X%.
Bahrain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average rice export price stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the export price, however, showed a deep slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (X%), while the prices for the other major destinations experienced more modest paces of growth.
Rice Imports
Imports into the Philippines
Rice imports into the Philippines skyrocketed to X tons in 2023, rising by X% on 2022 figures. Overall, imports showed a tangible increase. The pace of growth was the most pronounced in 2014 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.
In value terms, rice imports soared to $X in 2023. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2023 and are likely to see gradual growth in the immediate term.
Imports by Country
In 2023, Vietnam (X tons) constituted the largest supplier of rice to the Philippines, with a X% share of total imports. Moreover, rice imports from Vietnam exceeded the figures recorded by the second-largest supplier, Thailand (X tons), eightfold. Myanmar (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual growth rate of volume from Vietnam amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Myanmar (X% per year).
In value terms, Vietnam ($X) constituted the largest supplier of rice to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by Myanmar, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Myanmar (X% per year).
Import Prices by Country
The average rice import price stood at $X per ton in 2023, approximately equating the previous year. In general, the import price, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2022, and then shrank slightly in the following year.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Pakistan ($X per ton) and Thailand ($X per ton), while the price for China ($X per ton) and India ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the rice market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 27 - Rice, paddy
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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