Price for Vegetable Saps and Extracts; of Hops in the Philippines - 2023

Price for Vegetable Saps and Extracts; of Hops in the Philippines (CIF) - 2022

In 2022, the average import price for vegetable saps and extracts; of hopses amounted to $32,731 per ton, falling by -7.8% against the previous year. In general, the import price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 81%. The import price peaked at $35,496 per ton in 2021, and then contracted in the following year.

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 +8.0% per year.

Imports of Vegetable Saps and Extracts; of Hops in the Philippines

In 2022, imports of vegetable saps and extracts; of hopses into the Philippines fell significantly to 6.8 tons, waning by -79.4% on 2021. Over the period under review, imports faced a sharp decrease. The pace of growth was the most pronounced in 2021 when imports increased by 24% against the previous year.

In value terms, imports of vegetable saps and extracts; of hopses contracted notably to $222K in 2022. In general, imports showed a precipitous decrease. The pace of growth was the most pronounced in 2021 with an increase of 70% against the previous year.