Price for Cereal Flour; of Maize (Corn) in the Philippines - 2023
Contents:
- Price for Cereal Flour; of Maize (Corn) in the Philippines (CIF) - 2022
- Price for Cereal Flour; of Maize (Corn) in the Philippines (FOB) - 2022
- Imports of Cereal Flour; of Maize (Corn) in the Philippines
- Exports of Cereal Flour; of Maize (Corn) in the Philippines
Price for Cereal Flour; of Maize (Corn) in the Philippines (CIF) - 2022
In 2022, the average import price for cereal flour; of maize (corn) amounted to $801 per ton, surging by 12% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereal flour; of maize (corn) import price increased by +28.9% against 2020 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 75% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($801 per ton) and the United States ($801 per ton), while the price for France ($801 per ton) and Turkey ($801 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereal Flour; of Maize (Corn) in the Philippines (FOB) - 2022
In 2022, the average export price for cereal flour; of maize (corn) amounted to $692 per ton, dropping by -15.4% against the previous year. Overall, the export price showed a abrupt slump. The pace of growth was the most pronounced in 2019 an increase of 116% against the previous year. As a result, the export price attained the peak level of $3,162 per ton. From 2020 to 2022, the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.
From 2012 to 2022, the rate of growth in terms of prices for Germany amounted to +26.4% per year.
Imports of Cereal Flour; of Maize (Corn) in the Philippines
In 2022, imports of cereal flour; of maize (corn) into the Philippines stood at 5.8K tons, with an increase of 4.3% compared with 2021 figures. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 225% against the previous year. As a result, imports reached the peak of 5.9K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, cereal flour; of maize (corn) imports surged to $4.6M in 2022. In general, imports showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 167% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Cereal Flour; of Maize (Corn) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 415 | 1,010 | 1,800 | 2,692 | 86.5% |
| Turkey | N/A | 465 | 1,099 | 1,219 | 61.9% |
| Mexico | N/A | N/A | N/A | 311 | 0% |
| France | 77.9 | 742 | 303 | 222 | 41.8% |
| Hong Kong SAR | 103 | 101 | 241 | 103 | 0.0% |
| Poland | 30.8 | 494 | 352 | 30.6 | -0.2% |
| Thailand | 721 | N/A | N/A | 3.3 | -83.4% |
| Canada | N/A | 808 | 115 | N/A | -85.8% |
| Others | 18.4 | 21.6 | 52.2 | 59.6 | 48.0% |
| Total | 1,366 | 3,642 | 3,962 | 4,641 | 50.3% |
Top Suppliers of Cereal Flour; of Maize (Corn) to the Philippines in 2022:
- United States (3362.5 tons)
- Turkey (1523.1 tons)
- Mexico (388.9 tons)
- France (277.6 tons)
- Hong Kong SAR (128.1 tons)
- Poland (38.3 tons)
- Thailand (4.2 tons)
Exports of Cereal Flour; of Maize (Corn) in the Philippines
In 2022, approx. 2.4 tons of cereal flour; of maize (corn) were exported from the Philippines; with an increase of 133% compared with the year before. In general, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, cereal flour; of maize (corn) exports surged to $1.7K in 2022. Over the period under review, exports, however, showed a abrupt setback.
| Export of Cereal Flour; of Maize (Corn) in the Philippines (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | N/A | N/A | N/A | 1,659 | 0% |
| Macao SAR | 1,545 | N/A | 171 | N/A | -66.7% |
| New Zealand | 298 | N/A | N/A | N/A | 0% |
| Austria | N/A | N/A | 583 | N/A | 0% |
| Singapore | 32.0 | N/A | 87.0 | N/A | 64.9% |
| Qatar | N/A | 1,739 | N/A | N/A | 0% |
| Canada | 761 | N/A | N/A | N/A | 0% |
| Others | 4.0 | 2.0 | N/A | N/A | -50.0% |
| Total | 2,640 | 1,741 | 841 | 1,659 | -14.3% |
Top Export Markets for Cereal Flour; of Maize (Corn) from the Philippines in 2022:
- United Arab Emirates (2.4 tons)
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