Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the Philippines - 2023

Contents:

1. Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the Philippines (CIF) - 2022
2. Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the Philippines (FOB) - 2022
3. Imports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the Philippines
4. Exports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the Philippines

Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the Philippines (CIF) - 2022

The average import price for oils, essential; of orange (terpeneless or not), including concretes and absoluteses stood at $10,683 per ton in 2022, declining by -19% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 an increase of 80%. As a result, import price attained the peak level of $16,791 per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($28,789 per ton), while the price for the United States ($5,770 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the Philippines (FOB) - 2022

In 2022, the average export price for oils, essential; of orange (terpeneless or not), including concretes and absoluteses amounted to $32,122 per ton, with a decrease of -32% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 131% against the previous year. As a result, the export price attained the peak level of $55,133 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($57,950 per ton), while the average price for exports to New Zealand stood at $11,460 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+0.3%), while the prices for the other major destinations experienced a decline.

Imports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the Philippines

In 2022, imports of oils, essential; of orange (terpeneless or not), including concretes and absoluteses into the Philippines stood at 131 tons, increasing by 7.7% against the year before. The total import volume increased at an average annual rate of +9.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, imports of oils, essential; of orange (terpeneless or not), including concretes and absoluteses reduced to $1.4M in 2022. The total import value increased at an average annual rate of +7.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 38%. As a result, imports attained the peak of $1.6M, and then contracted in the following year.

Top Suppliers of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes to the Philippines in 2022:

1. Brazil (55.4 tons)
2. United States (53.9 tons)
3. Australia (10.7 tons)
4. United Kingdom (7.7 tons)
5. Canada (1.4 tons)

Exports of Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes in the Philippines

After three years of growth, shipments abroad of oils, essential; of orange (terpeneless or not), including concretes and absoluteses decreased by -10.9% to 90 kg in 2022. The total export volume increased at an average annual rate of +1.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 8.6% against the previous year. As a result, the exports reached the peak of 101 kg, and then declined in the following year.

In value terms, exports of oils, essential; of orange (terpeneless or not), including concretes and absoluteses fell significantly to $2.9K in 2022. Overall, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2021 with an increase of 13%. As a result, the exports reached the peak of $4.8K, and then dropped significantly in the following year.

Top Export Markets for Oils, Essential; of Orange (Terpeneless or Not), Including Concretes and Absolutes from the Philippines in 2022:

1. New Zealand (50.0 kg)
2. Vietnam (40.0 kg)

Source: IndexBox Market Intelligence Platform