Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines - 2023
Contents:
- Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines (FOB) - 2023
- Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines (CIF) - 2023
- Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines
- Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines
Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines (FOB) - 2023
The average export price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds stood at $16,331 per ton in November 2023, rising by 22% against the previous month. In general, export price indicated a pronounced increase from November 2022 to November 2023: its price increased at an average monthly rate of +2.0% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, export price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds increased by +27.3% against August 2023 indices. The most prominent rate of growth was recorded in March 2023 when the average export price increased by 35% m-o-m. Over the period under review, the average export prices attained the peak figure at $17,559 per ton in June 2023; however, from July 2023 to November 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In November 2023, the country with the highest price was the United States ($24,272 per ton), while the average price for exports to Guam ($1,709 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines (CIF) - 2023
The average import price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds stood at $1,971 per ton in November 2023, waning by -5.1% against the previous month. Over the period under review, the import price, however, continues to indicate a notable expansion. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 110% against the previous month. Over the period under review, average import prices hit record highs at $3,544 per ton in February 2023; however, from March 2023 to November 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($6,776 per ton), while the price for Hong Kong SAR ($748 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+25.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines
After three years of growth, shipments abroad of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds decreased by -33.3% to 4.2K tons in 2022. In general, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 16%. As a result, the exports attained the peak of 6.3K tons, and then shrank remarkably in the following year.
In value terms, exports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds dropped dramatically to $79M in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 149%. As a result, the exports attained the peak of $152M, and then fell significantly in the following year.
| Export of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 64.1 | 46.2 | 138 | 62.7 | -0.7% |
| South Korea | 6.5 | 3.9 | 5.9 | 9.2 | 12.3% |
| Japan | 1.8 | 3.4 | 3.5 | 2.6 | 13.0% |
| Hong Kong SAR | 1.4 | 0.9 | 1.9 | 1.2 | -5.0% |
| Canada | 0.5 | 0.6 | 0.3 | 0.7 | 11.9% |
| Vietnam | 0.1 | N/A | 0.1 | 0.7 | 91.3% |
| Qatar | N/A | 0.1 | 0.1 | 0.1 | 0.0% |
| Netherlands | 0.8 | 0.2 | 0.2 | N/A | -50.0% |
| Others | 3.4 | 5.9 | 2.3 | 1.5 | -23.9% |
| Total | 78.6 | 61.2 | 152 | 78.7 | 0.0% |
Top Export Markets for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved from the Philippines in 2022:
- United States (2459.6 tons)
- South Korea (918.9 tons)
- Japan (248.8 tons)
- Canada (109.8 tons)
- Vietnam (101.9 tons)
- Qatar (73.2 tons)
- Hong Kong SAR (70.8 tons)
Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines
In 2022, approx. 5.5K tons of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds were imported into the Philippines; increasing by 144% compared with the previous year. Overall, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds surged to $12M in 2022. In general, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 478 | 2,333 | 3,231 | 8,407 | 160.1% |
| Thailand | 1,257 | 393 | 388 | 770 | -15.1% |
| Taiwan (Chinese) | 541 | 531 | 822 | 738 | 10.9% |
| Vietnam | 64.2 | 66.9 | 119 | 541 | 103.5% |
| United States | 34.7 | 18.2 | 19.8 | 467 | 137.9% |
| Hong Kong SAR | 1.2 | 89.3 | 84.0 | 384 | 584.0% |
| Indonesia | 2,269 | 293 | 1,210 | 339 | -46.9% |
| Chile | 33.7 | N/A | 81.7 | 262 | 98.1% |
| Malaysia | 530 | 724 | 256 | 211 | -26.4% |
| Singapore | 403 | 193 | 183 | 160 | -26.5% |
| Others | 421 | 169 | 301 | 146 | -29.7% |
| Total | 6,034 | 4,810 | 6,696 | 12,424 | 27.2% |
Top Suppliers of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved to the Philippines in 2022:
- China (3837.5 tons)
- Hong Kong SAR (780.6 tons)
- United States (232.4 tons)
- Thailand (168.2 tons)
- Vietnam (127.1 tons)
- Chile (119.8 tons)
- Singapore (83.7 tons)
- Malaysia (52.7 tons)
- Indonesia (48.2 tons)
- Taiwan (Chinese) (38.4 tons)
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This report provides an in-depth analysis of the market for prepared or preserved crab meat in the Philippines.
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This report provides an in-depth analysis of the global market for prepared or preserved crab meat.
326
This report provides an in-depth analysis of the market for prepared or preserved crab meat in the Philippines.
513
This report provides an in-depth analysis of the global market for prepared or preserved crab meat.
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