Price for Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes in the Philippines - 2023

Contents:

1. Price for Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes in the Philippines (CIF) - 2022
2. Price for Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes in the Philippines (FOB) - 2022
3. Imports of Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes in the Philippines
4. Exports of Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes in the Philippines

Price for Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes in the Philippines (CIF) - 2022

The average import price for harrows; (excluding disc), scarifiers, cultivators, weeders and hoeses stood at $333 per unit in 2022, which is down by -13.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 131% against the previous year. Over the period under review, average import prices hit record highs at $621 per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

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 ($620 per unit), while the price for Japan ($78 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+23.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes in the Philippines (FOB) - 2022

In 2022, the average export price for harrows; (excluding disc), scarifiers, cultivators, weeders and hoeses amounted to $18,513 per unit, remaining stable against the previous year. In general, the export price saw a significant expansion. The growth pace was the most rapid in 2014 when the average export price increased by 280%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to +70.8% per year.

Imports of Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes in the Philippines

After three years of growth, supplies from abroad of harrows; (excluding disc), scarifiers, cultivators, weeders and hoeses decreased by -17.7% to 21K units in 2022. Overall, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 60% against the previous year. As a result, imports attained the peak of 25K units, and then dropped markedly in the following year.

In value terms, imports of harrows; (excluding disc), scarifiers, cultivators, weeders and hoeses contracted markedly to $6.9M in 2022. In general, imports recorded a perceptible contraction. The pace of growth was the most pronounced in 2021 with an increase of 41% against the previous year. As a result, imports attained the peak of $9.6M, and then shrank rapidly in the following year.

Top Suppliers of Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes to the Philippines in 2022:

1. China (9.6K units)
2. Thailand (8.2K units)
3. India (2.1K units)
4. Japan (0.3K units)
5. South Korea (0.3K units)

Exports of Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes in the Philippines

For the third consecutive year, the Philippines recorded decline in overseas shipments of harrows; (excluding disc), scarifiers, cultivators, weeders and hoeses, which decreased by 0% to 1 units in 2022. Overall, exports continue to indicate a dramatic contraction. The smallest decline of -78.6% was in 2020. Over the period under review, the exports of hit record highs at 14 units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of harrows; (excluding disc), scarifiers, cultivators, weeders and hoeses amounted to $19K in 2022. In general, exports enjoyed a significant expansion. The smallest decline of -34.3% was in 2020. Over the period under review, the exports of attained the maximum in 2022 and are likely to see gradual growth in years to come.

Top Export Markets for Harrows; (Excluding Disc), Scarifiers, Cultivators, Weeders and Hoes from the Philippines in 2022:

1. Thailand (1.0 units)

Source: IndexBox Market Intelligence Platform