Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines - 2023
Contents:
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines (CIF) - 2023
- Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines (FOB) - 2022
- Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines
- Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines (CIF) - 2023
The average import price for liquid margarine and edible mixtures of animal or vegetable fats stood at $1,772 per ton in September 2023, with an increase of 17% against the previous month. Over the period under review, the import price, however, recorded a noticeable slump. The import price peaked at $2,350 per ton in September 2022; however, from October 2022 to September 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was China ($8,268 per ton), while the price for Indonesia ($1,236 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Singapore (-0.4%), while the prices for the other major suppliers experienced a decline.
Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines (FOB) - 2022
The average export price for liquid margarine and edible mixtures of animal or vegetable fats stood at $2,063 per ton in 2022, shrinking by -2.4% against the previous year. Overall, the export price, however, posted a slight increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 63% against the previous year. The export price peaked at $2,114 per ton in 2021, and then shrank modestly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($3,789 per ton), while the average price for exports to the United States ($780 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+22.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines
In 2022, the amount of liquid margarine and edible mixtures of animal or vegetable fats imported into the Philippines rose significantly to 26K tons, growing by 14% compared with the previous year. In general, imports, however, recorded a slight descent.
In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats skyrocketed to $49M in 2022. Over the period under review, imports enjoyed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 45% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 12.8 | 9.9 | 16.0 | 27.0 | 28.2% |
| Indonesia | 8.5 | 7.0 | 9.8 | 16.3 | 24.2% |
| Australia | 1.3 | 2.2 | 3.1 | 2.3 | 20.9% |
| Singapore | 1.2 | 1.1 | 1.3 | 1.2 | 0.0% |
| Others | 4.3 | 3.7 | 4.5 | 2.3 | -18.8% |
| Total | 28.1 | 24.0 | 34.8 | 48.9 | 20.3% |
Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to the Philippines in 2022:
- Malaysia (12.4K tons)
- Indonesia (12.3K tons)
- Singapore (0.6K tons)
- Australia (0.5K tons)
Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines
After two years of decline, shipments abroad of liquid margarine and edible mixtures of animal or vegetable fats increased by 41% to 1K tons in 2022. In general, exports, however, showed a deep setback.
In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats soared to $2.1M in 2022. The total export value increased at an average annual rate of +5.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.
| Export of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 476 | 384 | 167 | 563 | 5.8% |
| China | 255 | 402 | 377 | 421 | 18.2% |
| Thailand | 460 | 756 | 302 | 304 | -12.9% |
| Japan | N/A | N/A | 24.2 | 147 | 507.4% |
| Vietnam | 229 | 201 | 158 | 143 | -14.5% |
| Myanmar | 206 | 258 | 124 | 137 | -12.7% |
| United States | N/A | N/A | 11.8 | 58.5 | 395.8% |
| Others | 148 | 86.4 | 341 | 292 | 25.4% |
| Total | 1,773 | 2,088 | 1,504 | 2,066 | 5.2% |
Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from the Philippines in 2022:
- South Korea (455.2 tons)
- China (129.4 tons)
- Thailand (95.4 tons)
- United States (75.0 tons)
- Vietnam (57.3 tons)
- Myanmar (50.8 tons)
- Japan (38.8 tons)
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