Price for Fish-Hooks; Whether or Not Snelled in the Philippines - 2023

Contents:

1. Price for Fish-Hooks; Whether or Not Snelled in the Philippines (CIF) - 2022
2. Price for Fish-Hooks; Whether or Not Snelled in the Philippines (FOB) - 2023
3. Imports of Fish-Hooks; Whether or Not Snelled in the Philippines
4. Exports of Fish-Hooks; Whether or Not Snelled in the Philippines

Price for Fish-Hooks; Whether or Not Snelled in the Philippines (CIF) - 2022

In 2022, the average import price for fish-hooks; whether or not snelleds amounted to $10,274 per ton, waning by -40.8% against the previous year. Overall, the import price, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 48%. The import price peaked at $20,370 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 Japan ($57,179 per ton), while the price for China ($3,154 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Fish-Hooks; Whether or Not Snelled in the Philippines (FOB) - 2023

In June 2023, the average export price for fish-hooks; whether or not snelleds amounted to $40,416 per ton, declining by -50.8% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in May 2023 when the average export price increased by 127% month-to-month. As a result, the export price reached the peak level of $82,082 per ton, and then reduced markedly in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was the Netherlands ($45,397 per ton), while the average price for exports to the UK ($25,678 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Fish-Hooks; Whether or Not Snelled in the Philippines

In 2022, fish-hooks; whether or not snelled imports into the Philippines soared to 414 tons, growing by 28% on the previous year's figure. In general, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +8.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, fish-hooks; whether or not snelled imports shrank significantly to $4.3M in 2022. Over the period under review, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 16%. As a result, imports reached the peak of $5.6M, and then contracted remarkably in the following year.

Top Suppliers of Fish-Hooks; Whether or Not Snelled to the Philippines in 2022:

1. China (316.5 tons)
2. Japan (40.8 tons)
3. South Korea (31.3 tons)
4. United States (8.2 tons)
5. Belgium (7.3 tons)
6. France (6.4 tons)

Exports of Fish-Hooks; Whether or Not Snelled in the Philippines

Fish-hooks; whether or not snelled exports from the Philippines skyrocketed to 271 tons in 2022, picking up by 193% compared with the year before. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 2,116%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, fish-hooks; whether or not snelled exports surged to $11M in 2022. In general, exports recorded a prominent increase. The growth pace was the most rapid in 2021 when exports increased by 1,540% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Top Export Markets for Fish-Hooks; Whether or Not Snelled from the Philippines in 2022:

1. Japan (133.5 tons)
2. United States (65.3 tons)
3. United Kingdom (41.0 tons)
4. France (15.8 tons)
5. Netherlands (3.1 tons)

Source: IndexBox Market Intelligence Platform