Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines - 2023
Contents:
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines (CIF) - 2022
- Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines (FOB) - 2022
- Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines
- Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines (CIF) - 2022
In 2022, the average import price for refined cane or beet sugar (with added flavoring or coloring matter) amounted to $3,300 per ton, increasing by 28% against the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 an increase of 41%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -6.3% per year.
Price for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines (FOB) - 2022
The average export price for refined cane or beet sugar (with added flavoring or coloring matter) stood at $13,060 per ton in 2022, increasing by 14% against the previous year. Over the period under review, the export price continues to indicate a significant increase. The pace of growth appeared the most rapid in 2013 an increase of 912%. The export price peaked in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($50,269 per ton), while the average price for exports to the United Arab Emirates ($2,785 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 Norway (+45.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines
For the third year in a row, the Philippines recorded decline in supplies from abroad of refined cane or beet sugar (with added flavoring or coloring matter), which decreased by -99.7% to 170 kg in 2022. Overall, imports showed a precipitous descent. The smallest decline of -17.7% was in 2020.
In value terms, imports of refined cane or beet sugar (with added flavoring or coloring matter) shrank rapidly to $561 in 2022. Over the period under review, imports faced a significant decline. The smallest decline of -22.4% was in 2020.
| Import of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 12.5 | 62.4 | 68.7 | 0.6 | -63.7% |
| Thailand | 172 | 63.1 | 27.8 | N/A | -59.8% |
| Vietnam | 12.3 | N/A | N/A | N/A | 0% |
| France | 7.6 | 13.6 | 8.3 | N/A | 4.5% |
| Singapore | 21.0 | 33.3 | 18.0 | N/A | -7.4% |
| Others | 3.1 | 4.5 | 3.1 | N/A | 0.0% |
| Total | 228 | 177 | 126 | 0.6 | -86.2% |
Top Suppliers of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) to the Philippines in 2022:
- United States (170.0 kg)
Exports of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines
Exports of refined cane or beet sugar (with added flavoring or coloring matter) from the Philippines shrank to 11 tons in 2022, falling by -11% against the year before. Overall, exports showed a abrupt descent.
In value terms, exports of refined cane or beet sugar (with added flavoring or coloring matter) amounted to $150K in 2022. In general, exports continue to indicate a relatively flat trend pattern.
| Export of Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
| United States | 87.4 | 78.5 | 69.6 | -10.8% | |
| Canada | 19.2 | 16.5 | 24.7 | 13.4% | |
| Qatar | 11.5 | 12.4 | 11.8 | 1.3% | |
| Norway | 4.2 | 8.6 | 8.2 | 39.7% | |
| United Arab Emirates | 6.1 | 1.2 | 6.1 | 0.0% | |
| United Kingdom | 2.1 | 4.5 | 4.2 | 41.4% | |
| Malaysia | 1.2 | 1.3 | 1.1 | -4.3% | |
| Oman | N/A | 5.4 | N/A | 0% | |
| Others | 19.3 | 19.8 | 24.0 | 11.5% | |
| Total | 151 | 148 | 150 | -0.3% | |
Top Export Markets for Refined Cane or Beet Sugar (with Added Flavoring or Coloring Matter) from the Philippines in 2022:
- Canada (3.0 tons)
- Qatar (2.8 tons)
- United Arab Emirates (2.2 tons)
- United States (1.4 tons)
- United Kingdom (0.3 tons)
- Malaysia (0.2 tons)
- Norway (0.2 tons)
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