Price for Crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containers in the Philippines - 2023

Contents:

1. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in the Philippines (CIF) - 2022
2. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in the Philippines (FOB) - 2022
3. Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in the Philippines
4. Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in the Philippines

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in the Philippines (CIF) - 2022

In 2022, the average import price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses amounted to $11,613 per ton, jumping by 28% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses decreased by -33.0% against 2020 indices. Over the period under review, average import prices hit record highs at $17,324 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($39,517 per ton), while the price for Indonesia ($7,450 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in the Philippines (FOB) - 2022

In 2022, the average export price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses amounted to $1,186 per ton, shrinking by -47.3% against the previous year. Overall, the export price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2020 an increase of 12%. The export price peaked at $2,606 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($3,670 per ton), while the average price for exports to Qatar ($654 per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+31.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in the Philippines

In 2022, after two years of decline, there was significant growth in supplies from abroad of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses, when their volume increased by 118% to 45 tons. Overall, imports, however, recorded a sharp decrease.

In value terms, imports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses skyrocketed to $524K in 2022. In general, imports, however, saw a sharp reduction.

Top Suppliers of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers to the Philippines in 2022:

1. Vietnam (20.0 tons)
2. China (17.6 tons)
3. Indonesia (6.0 tons)
4. Thailand (1.6 tons)

Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in the Philippines

In 2022, approx. 75 tons of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses were exported from the Philippines; jumping by 98% compared with 2021. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 700% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses rose slightly to $89K in 2022. Over the period under review, exports saw resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 701% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Top Export Markets for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers from the Philippines in 2022:

1. United States (39.4 tons)
2. United Arab Emirates (28.9 tons)
3. Qatar (3.6 tons)
4. Kuwait (1.7 tons)
5. New Zealand (1.4 tons)

Source: IndexBox Market Intelligence Platform