Price for Flours and Meals; of Soya Beans in the Philippines - 2023

Contents:

1. Price for Flours and Meals; of Soya Beans in the Philippines (CIF) - 2022
2. Price for Flours and Meals; of Soya Beans in the Philippines (FOB) - 2022
3. Imports of Flours and Meals; of Soya Beans in the Philippines
4. Exports of Flours and Meals; of Soya Beans in the Philippines

Price for Flours and Meals; of Soya Beans in the Philippines (CIF) - 2022

In 2022, the average import price for flours and meals; of soya beanses amounted to $1,092 per ton, increasing by 29% against the previous year. Overall, the import price posted strong growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by 106%. Over the period under review, average import prices attained the maximum at $1,280 per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($1,092 per ton), while the price for Hong Kong SAR ($1,092 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+25.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Flours and Meals; of Soya Beans in the Philippines (FOB) - 2022

In 2022, the average export price for flours and meals; of soya beanses amounted to $1,611 per ton, with a decrease of -19.4% against the previous year. In general, the export price, however, continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 an increase of 510%. The export price peaked at $2,360 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($1,615 per ton), while the average price for exports to the United Arab Emirates stood at $1,417 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-3.0%).

Imports of Flours and Meals; of Soya Beans in the Philippines

After three years of growth, purchases abroad of flours and meals; of soya beanses decreased by -67.3% to 534 tons in 2022. Over the period under review, imports, however, saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of 310% against the previous year. As a result, imports attained the peak of 1.6K tons, and then shrank dramatically in the following year.

In value terms, imports of flours and meals; of soya beanses fell rapidly to $583K in 2022. Overall, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 355% against the previous year. As a result, imports attained the peak of $1.4M, and then fell markedly in the following year.

Top Suppliers of Flours and Meals; of Soya Beans to the Philippines in 2022:

1. Hong Kong SAR (293.0 tons)
2. Vietnam (189.9 tons)
3. United States (50.7 tons)

Exports of Flours and Meals; of Soya Beans in the Philippines

After two years of decline, overseas shipments of flours and meals; of soya beanses increased by 7,393% to 1.1 tons in 2022. In general, exports, however, saw a significant curtailment.

In value terms, exports of flours and meals; of soya beanses surged to $1.8K in 2022. Overall, exports, however, showed a sharp descent.

Top Export Markets for Flours and Meals; of Soya Beans from the Philippines in 2022:

1. Australia (1100.0 kg)
2. United Arab Emirates (24.0 kg)

Source: IndexBox Market Intelligence Platform