Philippines - Cereals - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCereal Price in the Philippines - 2023
Contents:
- Cereal Price in the Philippines (CIF) - 2022
- Cereal Price in the Philippines (FOB) - 2022
- Cereal Imports in the Philippines
- Cereal Exports in the Philippines
Cereal Price in the Philippines (CIF) - 2022
In 2022, the average cereal import price amounted to $367 per ton, growing by 28% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($416 per ton) and Canada ($369 per ton), while the price for Thailand ($320 per ton) and Myanmar ($345 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Cereal Price in the Philippines (FOB) - 2022
In 2022, the average cereal export price amounted to $2,544 per ton, growing by 71% against the previous year. In general, the export price, however, showed a perceptible descent. The export price peaked at $3,754 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($4,071 per ton), while the average price for exports to Singapore ($126 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.
Cereal Imports in the Philippines
For the fourth year in a row, the Philippines recorded growth in purchases abroad of cereals, which increased by 3.9% to 8.5M tons in 2022. The total import volume increased at an average annual rate of +3.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 5.7%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, cereal imports skyrocketed to $3.1B in 2022. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +14.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Cereal in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 475 | 183 | 702 | 1,349 | 41.6% |
| United States | 857 | 909 | 1,004 | 1,109 | 9.0% |
| Myanmar | 41.3 | 37.6 | 83.7 | 146 | 52.3% |
| Canada | 3.1 | 65.2 | 34.3 | 142 | 257.8% |
| India | 24.6 | 46.3 | 148 | 139 | 78.1% |
| Brazil | 95.8 | 27.8 | 1.7 | 85.9 | -3.6% |
| Vietnam | 37.1 | 112 | 55.5 | 32.7 | -4.1% |
| Ukraine | 282 | 155 | 128 | 4.7 | -74.5% |
| Russia | 77.7 | 121 | 0.1 | 0.7 | -79.2% |
| Bulgaria | 76.6 | 71.1 | 57.0 | N/A | -13.7% |
| Romania | 41.1 | 123 | 8.4 | N/A | -54.8% |
| Others | 50.4 | 101 | 114 | 107 | 28.5% |
| Total | 2,062 | 1,952 | 2,336 | 3,117 | 14.8% |
Top Suppliers of Cereal to the Philippines in 2022:
- Australia (3730.0K tons)
- United States (3035.8K tons)
- Myanmar (423.5K tons)
- Canada (386.0K tons)
- India (335.1K tons)
- Brazil (247.6K tons)
- Vietnam (79.8K tons)
- Ukraine (9.7K tons)
- Russia (1.2K tons)
Cereal Exports in the Philippines
In 2022, approx. 3.9K tons of cereals were exported from the Philippines; surging by 56% compared with the previous year. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 609% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, cereal exports skyrocketed to $9.9M in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 256%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Cereal in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 1,072 | 4,531 | 2,980 | 8,802 | 101.7% |
| Bangladesh | 151 | 118 | 118 | 631 | 61.1% |
| Qatar | 25.1 | 54.8 | 103 | 93.8 | 55.2% |
| Nigeria | N/A | N/A | N/A | 61.9 | 0% |
| United Arab Emirates | 18.5 | 41.8 | 97.9 | 58.2 | 46.5% |
| Singapore | 7.6 | 38.7 | 37.2 | 17.0 | 30.8% |
| Others | 237 | 600 | 356 | 234 | -0.4% |
| Total | 1,511 | 5,384 | 3,692 | 9,898 | 87.1% |
Top Export Markets for Cereal from the Philippines in 2022:
- Vietnam (2162.1 tons)
- Bangladesh (568.5 tons)
- United Arab Emirates (458.2 tons)
- Nigeria (207.6 tons)
- Qatar (156.7 tons)
- Singapore (135.1 tons)
This report provides an in-depth analysis of the cereal 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 108 - Cereals, nes
- FCL 103 - Mixed grain
- FCL 92 - Quinoa
- FCL 15 - Wheat
- FCL 71 - Rye
- FCL 44 - Barley
- FCL 75 - Oats
- FCL 56 - Maize
- FCL 27 - Rice, paddy
- FCL 83 - Sorghum
- FCL 89 - Buckwheat
- FCL 101 - Canary seed
- FCL 94 - Fonio
- FCL 97 - Triticale
- FCL 79 - Millet
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
-
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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This report provides an in-depth analysis of the cereal market in the Philippines.
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This report provides an in-depth analysis of the wheat market in the Philippines.
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This report provides an in-depth analysis of the grain market in the Philippines.
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This report provides an in-depth analysis of the global cereal market.
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This report provides an in-depth analysis of the global wheat market.
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This report provides an in-depth analysis of the global grain market.
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681
In 2022, wheat price growth is forecast to slow down with sufficient global production and falling demand for feed grains in the U.S. and the EU. Global wheat output is set to remain at the 2021’s level of approx. 777M tons.
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The average annual wheat price in the U.S. is forecast to drop by 2% y-o-y to $250 per ton in 2022, falling on reduced domestic consumption coupled with stable supply worldwide. The market balance will be buoyed by production gains in Argentina and the EU that will offset decreasing output in Brazil and Paraguay.
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This year, harvests in the EU, the U.S., the UK, Argentina, Morocco and Ukraine are expected to increase, leading to a growth in wheat production. Even though global stockpiles of grains will remain high, there are boosted expectations for inflation due to forecasts of record demand and increased prices for other cereal grains. The rising global population and bioethanol production are key factors leading to this growth in demand for wheat. Another driving factor is the emerging trend in the EU to use more wheat in animal feed rather than barley.
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Global wheat production will reach 758.3 million tons in 2020, showing a slight decrease of 0.5 percent over the previous year's highs and still at a fairly high level.
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Global wheat consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
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In 2015, the countries with the highest levels of production were China (X thousand tons), India (X thousand tons), Russia (X thousand tons), together accounting for X% of total output.
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The U.S. dominates in the global wheat trade. In 2014, the U.S. exported X thousand tons of wheat totaling X million USD, X% under the previous year. Its primary trading partner was Japan, where it supplied X% of its total wheat exports in
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