Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines - 2023
Contents:
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines (CIF) - 2022
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines (FOB) - 2022
- Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines
- Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines (CIF) - 2022
The average import price for raw cane sugar (without flavoring or coloring matter, other) stood at $668 per ton in 2022, dropping by -12% against the previous year. Overall, the import price, however, saw a mild increase. The most prominent rate of growth was recorded in 2019 an increase of 287% against the previous year. As a result, import price attained the peak level of $1,283 per ton. From 2020 to 2022, the average import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($846 per ton), while the price for Thailand stood at $648 per ton.
From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+18.4%).
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines (FOB) - 2022
In 2022, the average export price for raw cane sugar (without flavoring or coloring matter, other) amounted to $770 per ton, rising by 39% against the previous year. Overall, export price indicated prominent growth from 2017 to 2022: its price increased at an average annual rate of +11.7% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for raw cane sugar (without flavoring or coloring matter, other) increased by +52.2% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($1,962 per ton), while the average price for exports to Spain ($288 per ton) was amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines
Imports of raw cane sugar (without flavoring or coloring matter, other) into the Philippines surged to 473 tons in 2022, jumping by 538% against the previous year. Overall, imports continue to indicate significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of raw cane sugar (without flavoring or coloring matter, other) soared to $316K in 2022. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 9.9 | N/A | 26.4 | 275 | 202.9% |
| Vietnam | 1.5 | N/A | N/A | 40.6 | 200.2% |
| Colombia | N/A | 32.9 | N/A | N/A | 0% |
| Taiwan (Chinese) | 60.9 | 23.5 | 25.9 | N/A | -34.8% |
| Others | 17.2 | 5.5 | 4.0 | N/A | -51.8% |
| Total | 89.5 | 62.0 | 56.3 | 316 | 52.3% |
Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) to the Philippines in 2022:
- Thailand (425.0 tons)
- Vietnam (48.0 tons)
Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines
In 2022, shipments abroad of raw cane sugar (without flavoring or coloring matter, other) decreased by -32% to 80K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 4.5%.
In value terms, exports of raw cane sugar (without flavoring or coloring matter, other) reduced to $62M in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 13% against the previous year. As a result, the exports reached the peak of $65M, and then fell in the following year.
| Export of Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 1.5 | 1.3 | 1.5 | 18.3 | 130.2% |
| Italy | 1.3 | 1.0 | 0.8 | 8.7 | 88.4% |
| South Korea | 0.8 | 0.2 | 0.2 | 5.7 | 92.4% |
| Japan | N/A | N/A | 0.1 | 0.5 | 400.0% |
| Spain | N/A | N/A | N/A | 0.3 | 0% |
| United States | 53.5 | 52.6 | 59.9 | 0.2 | -84.5% |
| Others | 3.3 | 2.7 | 2.8 | 27.9 | 103.7% |
| Total | 60.4 | 57.9 | 65.2 | 61.6 | 0.7% |
Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter, Other) from the Philippines in 2022:
- South Korea (12.9K tons)
- France (9.3K tons)
- Italy (4.6K tons)
- Spain (1.1K tons)
- Japan (0.9K tons)
- United States (0.4K tons)
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