Price for Cyanides and Cyanide Oxides; Other than of Sodium in the Philippines - 2023

Contents:

  1. Price for Cyanides and Cyanide Oxides; Other than of Sodium in the Philippines (CIF) - 2022
  2. Imports of Cyanides and Cyanide Oxides; Other than of Sodium in the Philippines

Price for Cyanides and Cyanide Oxides; Other than of Sodium in the Philippines (CIF) - 2022

In 2022, the average import price for cyanides and cyanide oxides; other than of sodia amounted to $14,678 per ton, increasing by 11% against the previous year. Overall, the import price showed prominent growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 80% against the previous year. As a result, import price attained the peak level of $24,758 per ton. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($19,516 per ton), while the price for South Korea ($5,416 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Imports of Cyanides and Cyanide Oxides; Other than of Sodium in the Philippines

In 2022, the amount of cyanides and cyanide oxides; other than of sodia imported into the Philippines declined dramatically to 558 tons, waning by -22.5% against 2021. Over the period under review, imports continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2021 with an increase of 108% against the previous year. As a result, imports attained the peak of 720 tons, and then contracted dramatically in the following year.

In value terms, imports of cyanides and cyanide oxides; other than of sodia declined to $8.2M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +6.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 83% against the previous year. As a result, imports attained the peak of $9.5M, and then fell in the following year.

Import of Cyanides and Cyanide Oxides; Other than of Sodium in the Philippines (Million USD)
COUNTRY2019202020212022CAGR,
2019-2022
Japan2.62.54.44.419.2%
Taiwan (Chinese)2.70.72.61.8-12.6%
South Korea0.10.10.10.226.0%
China0.20.30.3N/A22.5%
Others1.01.72.21.821.6%
Total6.75.29.58.27.0%

Top Suppliers of Cyanides and Cyanide Oxides; Other than of Sodium to the Philippines in 2022:

  1. Taiwan (Chinese) (298.6 tons)
  2. Japan (225.1 tons)
  3. South Korea (29.2 tons)

Source: IndexBox Market Intelligence Platform

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