Price for Cereals; Maize (Corn), Other than Seed in the Philippines - 2023
Contents:
- Price for Cereals; Maize (Corn), Other than Seed in the Philippines (CIF) - 2022
- Price for Cereals; Maize (Corn), Other than Seed in the Philippines (FOB) - 2022
- Imports of Cereals; Maize (Corn), Other than Seed in the Philippines
- Exports of Cereals; Maize (Corn), Other than Seed in the Philippines
Price for Cereals; Maize (Corn), Other than Seed in the Philippines (CIF) - 2022
The average import price for cereals; maize (corn), other than seeds stood at $345 per ton in 2022, jumping by 19% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 29% against the previous year. Over the period under review, average import prices reached the peak figure at $370 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($345 per ton) and Argentina ($345 per ton), while the price for Indonesia ($345 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 Vietnam (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Maize (Corn), Other than Seed in the Philippines (FOB) - 2022
In 2022, the average export price for cereals; maize (corn), other than seeds amounted to $293 per ton, picking up by 63% against the previous year. Over the period under review, the export price, however, recorded a precipitous contraction. The most prominent rate of growth was recorded in 2014 an increase of 324% against the previous year. As a result, the export price attained the peak level of $13,225 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($293 per ton), while the average price for exports to Switzerland stood at $293 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kiribati (+120.0%), while the prices for the other major destinations experienced a decline.
Imports of Cereals; Maize (Corn), Other than Seed in the Philippines
In 2022, approx. 991K tons of cereals; maize (corn), other than seeds were imported into the Philippines; with an increase of 72% against the previous year. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 99%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, imports of cereals; maize (corn), other than seeds soared to $342M in 2022. Overall, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Cereals; Maize (Corn), Other than Seed in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Myanmar | 5.0 | 9.3 | 65.8 | 146 | 207.9% |
| Brazil | 16.8 | 9.8 | N/A | 85.5 | 72.0% |
| Indonesia | N/A | 19.6 | N/A | 38.7 | 40.5% |
| Argentina | 10.6 | 5.0 | 5.8 | 35.0 | 48.9% |
| Vietnam | 46.2 | 125 | 62.1 | 27.0 | -16.4% |
| United States | 35.9 | 26.0 | 7.3 | 7.2 | -41.5% |
| Thailand | 5.3 | N/A | 25.1 | N/A | 117.6% |
| Others | 1.1 | 0.9 | 1.4 | 2.7 | 34.9% |
| Total | 121 | 196 | 167 | 342 | 41.4% |
Top Suppliers of Cereals; Maize (Corn), Other than Seed to the Philippines in 2022:
- Myanmar (423.5K tons)
- Brazil (247.5K tons)
- Indonesia (112.0K tons)
- Argentina (101.4K tons)
- Vietnam (78.1K tons)
- United States (20.8K tons)
Exports of Cereals; Maize (Corn), Other than Seed in the Philippines
In 2022, overseas shipments of cereals; maize (corn), other than seeds decreased by -85.6% to 15 tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,320% against the previous year. As a result, the exports attained the peak of 121 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
In value terms, exports of cereals; maize (corn), other than seeds shrank rapidly to $4.4K in 2022. Overall, exports continue to indicate a dramatic setback. The most prominent rate of growth was recorded in 2020 with an increase of 780%. As a result, the exports reached the peak of $173K. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Cereals; Maize (Corn), Other than Seed in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 5.5 | 0.8 | 5.8 | 2.8 | -20.2% |
| Switzerland | N/A | N/A | N/A | 1.5 | 0% |
| Hong Kong SAR | N/A | 167 | N/A | N/A | 0% |
| Kiribati | N/A | 5.0 | 10.1 | N/A | 102.0% |
| Vietnam | N/A | N/A | 1.0 | N/A | 0% |
| Australia | 11.0 | N/A | N/A | N/A | 0% |
| Canada | N/A | N/A | 1.3 | N/A | 0% |
| Others | 3.1 | 0.1 | 0.5 | 0.1 | -68.2% |
| Total | 19.6 | 173 | 18.6 | 4.4 | -39.2% |
Top Export Markets for Cereals; Maize (Corn), Other than Seed from the Philippines in 2022:
- United Arab Emirates (9.7 tons)
- Switzerland (5.0 tons)
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Designed to bring an unforgettable experience for children and adults alike, the Amaizing-Acres corn maze is certainly a place to visit this fall, a unique opportunity to enjoy a family get away surrounded by nature.
