Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines - 2023
Contents:
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines (FOB) - 2023
- Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines (CIF) - 2022
- Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines
- Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines (FOB) - 2023
The average export price for raw cane sugar (without flavoring or coloring matter) stood at $2,042 per ton in November 2023, reducing by -8.4% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2023 an increase of 40% month-to-month. As a result, the export price attained the peak level of $2,762 per ton. From July 2023 to November 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In November 2023, the country with the highest price was France ($2,464 per ton), while the average price for exports to Germany ($1,340 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines (CIF) - 2022
The average import price for raw cane sugar (without flavoring or coloring matter) stood at $1,157 per ton in 2022, rising by 53% against the previous year. Over the period under review, the import price saw significant growth. The most prominent rate of growth was recorded in 2019 an increase of 80%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($1,157 per ton), while the price for Singapore totaled $1,156 per ton.
From 2018 to 2022, the most notable rate of growth in terms of prices was attained by India (+86.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines
In 2022, overseas shipments of raw cane sugar (without flavoring or coloring matter) decreased by -37.2% to 2.8K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 54%. As a result, the exports reached the peak of 4.4K tons, and then reduced notably in the following year.
In value terms, exports of raw cane sugar (without flavoring or coloring matter) contracted dramatically to $5M in 2022. Over the period under review, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +7.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. As a result, the exports attained the peak of $6.8M, and then reduced dramatically in the following year.
| Export of Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 1,190 | 1,350 | 1,666 | 1,350 | 4.3% |
| France | 5.4 | N/A | N/A | 1,265 | 516.5% |
| Japan | 935 | 1,304 | 1,794 | 912 | -0.8% |
| Germany | 715 | 929 | 1,210 | 455 | -14.0% |
| Taiwan (Chinese) | 67.1 | N/A | N/A | 391 | 79.9% |
| Italy | N/A | N/A | N/A | 280 | 0% |
| Switzerland | 289 | 324 | 547 | 184 | -14.0% |
| Others | 811 | 1,228 | 1,534 | 139 | -44.5% |
| Total | 4,013 | 5,135 | 6,751 | 4,975 | 7.4% |
Top Export Markets for Raw Cane Sugar (Without Flavoring or Coloring Matter) from the Philippines in 2022:
- South Korea (749.4 tons)
- Japan (648.8 tons)
- France (567.6 tons)
- Germany (238.6 tons)
- Taiwan (Chinese) (233.0 tons)
- Italy (152.2 tons)
- Switzerland (125.7 tons)
Imports of Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines
Imports of raw cane sugar (without flavoring or coloring matter) into the Philippines soared to 22 tons in 2022, jumping by 4,259% against 2021 figures. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 121,402%. As a result, imports attained the peak of 73 tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of raw cane sugar (without flavoring or coloring matter) soared to $25K in 2022. Overall, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 138,953% against the previous year. As a result, imports reached the peak of $50K. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Raw Cane Sugar (Without Flavoring or Coloring Matter) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | N/A | 0.2 | N/A | 24.3 | 1002.3% |
| Singapore | N/A | N/A | N/A | 1.0 | 0% |
| Taiwan (Chinese) | N/A | 8.6 | 0.4 | N/A | -95.3% |
| Myanmar | N/A | 41.3 | N/A | N/A | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | N/A | 50.1 | 0.4 | 25.2 | -29.1% |
Top Suppliers of Raw Cane Sugar (Without Flavoring or Coloring Matter) to the Philippines in 2022:
- India (21.0 tons)
- Singapore (0.8 tons)
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