Gum Arabic Price in the Philippines - 2023
Contents:
- Gum Arabic Price in the Philippines (CIF) - 2022
- Gum Arabic Price in the Philippines (FOB) - 2022
- Gum Arabic Imports in the Philippines
- Gum Arabic Exports in the Philippines
Gum Arabic Price in the Philippines (CIF) - 2022
In 2022, the average gum arabic import price amounted to $3,480 per ton, growing by 11% against the previous year. In general, the import price, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 41% against the previous year. The import price peaked at $5,022 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($3,480 per ton) and France ($3,480 per ton), while the price for the UK ($3,480 per ton) and China ($3,480 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Gum Arabic Price in the Philippines (FOB) - 2022
In 2022, the average gum arabic export price amounted to $3,946 per ton, surging by 32% against the previous year. Over the period under review, the export price, however, recorded a abrupt downturn. Over the period under review, the average export prices attained the peak figure at $8,990 per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Australia.
From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to -1.6% per year.
Gum Arabic Imports in the Philippines
In 2022, overseas purchases of gum arabics were finally on the rise to reach 559 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, faced a abrupt decrease.
In value terms, gum arabic imports soared to $1.9M in 2022. Overall, imports, however, showed a relatively flat trend pattern.
| Import of Gum Arabic in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 218 | 472 | 446 | 1,176 | 75.4% |
| France | 1,465 | 1,198 | 531 | 640 | -24.1% |
| China | 86.1 | 109 | 73.7 | 72.1 | -5.7% |
| Singapore | 56.4 | 46.9 | 24.2 | N/A | -34.5% |
| Others | 122 | 104 | 565 | 57.3 | -22.3% |
| Total | 1,948 | 1,929 | 1,640 | 1,946 | -0.0% |
Top Suppliers of Gum Arabic to the Philippines in 2022:
- India (337.9 tons)
- France (184.0 tons)
- China (20.7 tons)
Gum Arabic Exports in the Philippines
In 2022, approx. 707 kg of gum arabics were exported from the Philippines; shrinking by -19% compared with the year before. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 185%.
In value terms, gum arabic exports rose rapidly to $2.8K in 2022. Overall, exports saw a sharp shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 45% against the previous year.
| Export of Gum Arabic in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | N/A | N/A | N/A | 2.8 | 0% |
| France | 6.2 | 1.6 | 2.3 | N/A | -39.1% |
| Canada | 0.4 | 0.1 | 0.2 | N/A | -29.3% |
| Others | 0.1 | N/A | 0.1 | N/A | 0.0% |
| Total | 6.7 | 1.8 | 2.6 | 2.8 | -25.2% |
Top Export Markets for Gum Arabic from the Philippines in 2022:
- Australia (707.0 kg)
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