Price for Sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa in the Philippines - 2023
Contents:
- Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines (CIF) - 2023
- Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines (FOB) - 2023
- Imports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines
- Exports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines
Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines (CIF) - 2023
In September 2023, the average import price for sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa amounted to $1,830 per ton, remaining relatively unchanged against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in February 2023 when the average import price increased by 39% against the previous month. As a result, import price attained the peak level of $2,124 per ton. From March 2023 to September 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($4,012 per ton), while the price for China ($1,383 per ton) was amongst the lowest.
From November 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Thailand (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines (FOB) - 2023
In September 2023, the average export price for sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa amounted to $3,942 per ton, rising by 6% against the previous month. Over the last ten-month period, it increased at an average monthly rate of +2.4%. The pace of growth was the most pronounced in February 2023 an increase of 24% m-o-m. Over the period under review, the average export prices reached the maximum in September 2023.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($15,947 per ton), while the average price for exports to Taiwan (Chinese) ($2,045 per ton) was amongst the lowest.
From November 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Samoa (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines
In 2022, imports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa into the Philippines skyrocketed to 68K tons, growing by 38% on the previous year. In general, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +6.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.5% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa surged to $107M in 2022. Over the period under review, total imports indicated a notable expansion from 2019 to 2022: its value increased at an average annual rate of +3.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 41.0 | 28.8 | 39.6 | 48.9 | 6.0% |
| Indonesia | 23.4 | 17.5 | 15.4 | 17.3 | -9.6% |
| Vietnam | 13.4 | 9.0 | 11.0 | 16.6 | 7.4% |
| Thailand | 6.0 | 4.5 | 3.8 | 5.8 | -1.1% |
| United States | 2.4 | 2.3 | 1.6 | 5.2 | 29.4% |
| Bangladesh | 0.9 | 1.4 | 0.2 | 0.1 | -51.9% |
| Others | 9.7 | 6.7 | 8.7 | 12.8 | 9.7% |
| Total | 96.7 | 70.1 | 80.2 | 107 | 3.4% |
Top Suppliers of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa to the Philippines in 2022:
- China (44.6K tons)
- Indonesia (7.8K tons)
- Vietnam (7.2K tons)
- United States (2.3K tons)
- Thailand (2.2K tons)
- Bangladesh (0.3K tons)
Exports of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines
In 2022, exports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa from the Philippines expanded significantly to 8.5K tons, growing by 11% on 2021 figures. The total export volume increased at an average annual rate of +6.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 31% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of sugar confectionery; (excluding chewing gum, including white chocolate), not containing cocoa expanded remarkably to $28M in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +9.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 33% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 2.0 | 1.5 | 1.7 | 3.9 | 24.9% |
| Japan | 1.7 | 1.7 | 2.7 | 3.0 | 20.8% |
| United States | 1.1 | 1.3 | 1.9 | 2.8 | 36.5% |
| Taiwan (Chinese) | 1.4 | 1.2 | 1.7 | 2.2 | 16.3% |
| Papua New Guinea | 0.9 | 1.3 | 1.7 | 2.2 | 34.7% |
| Malaysia | 1.0 | 0.7 | 1.3 | 2.0 | 26.0% |
| Indonesia | 1.2 | 0.8 | 1.9 | 1.9 | 16.6% |
| Vietnam | 1.2 | 2.3 | 1.0 | 1.7 | 12.3% |
| South Korea | 2.1 | 1.5 | 2.6 | 1.7 | -6.8% |
| China | 1.6 | 1.1 | 1.1 | 0.6 | -27.9% |
| Saudi Arabia | 1.5 | 0.5 | 0.9 | 0.2 | -48.9% |
| Latvia | 0.9 | 0.7 | 0.2 | N/A | -52.9% |
| Others | 5.1 | 4.0 | 6.1 | 6.2 | 6.7% |
| Total | 21.6 | 18.6 | 24.7 | 28.3 | 9.4% |
Top Export Markets for Sugar Confectionery; (Excluding Chewing Gum, Including White Chocolate), Not Containing Cocoa from the Philippines in 2022:
- Thailand (1582.7 tons)
- Japan (1009.3 tons)
- Taiwan (Chinese) (997.2 tons)
- Papua New Guinea (835.1 tons)
- Malaysia (715.3 tons)
- South Korea (634.6 tons)
- Indonesia (553.8 tons)
- Vietnam (530.6 tons)
- United States (251.8 tons)
- China (157.4 tons)
- Saudi Arabia (65.9 tons)
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