Price for Cereal Groats and Meal; of Wheat in the Philippines - 2023
Contents:
- Price for Cereal Groats and Meal; of Wheat in the Philippines (CIF) - 2022
- Imports of Cereal Groats and Meal; of Wheat in the Philippines
Price for Cereal Groats and Meal; of Wheat in the Philippines (CIF) - 2022
The average import price for cereal groats and meal; of wheats stood at $789 per ton in 2022, with an increase of 38% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for cereal groats and meal; of wheats increased by +61.1% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Mexico ($789 per ton), while the price for Australia amounted to $789 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Cereal Groats and Meal; of Wheat in the Philippines
After two years of decline, overseas purchases of cereal groats and meal; of wheats increased by 0.8% to 6.4K tons in 2022. Over the period under review, imports, however, recorded a abrupt contraction.
In value terms, imports of cereal groats and meal; of wheats skyrocketed to $5M in 2022. The total import value increased at an average annual rate of +2.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Cereal Groats and Meal; of Wheat in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 2.7 | 2.8 | 2.5 | 3.6 | 10.1% |
| Australia | 1.6 | 0.9 | 1.2 | 1.4 | -4.4% |
| Others | 0.4 | N/A | N/A | N/A | 0% |
| Total | 4.7 | 3.7 | 3.6 | 5.0 | 2.1% |
Top Suppliers of Cereal Groats and Meal; of Wheat to the Philippines in 2022:
- Mexico (4.6K tons)
- Australia (1.8K tons)
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