Starches; Inulin Price in the Philippines - 2023
Contents:
- Starches; Inulin Price in the Philippines (CIF) - 2023
- Starches; Inulin Price in the Philippines (FOB) - 2022
- Starches; Inulin Imports in the Philippines
- Starches; Inulin Exports in the Philippines
Starches; Inulin Price in the Philippines (CIF) - 2023
In July 2023, the average starches; inulin import price amounted to $1,081 per ton, shrinking by -3% against the previous month. Over the period from July 2022 to July 2023, it increased at an average monthly rate of +1.3%. The pace of growth was the most pronounced in June 2023 an increase of 21% month-to-month. As a result, import price attained the peak level of $1,114 per ton, and then reduced in the following month.
Average prices varied somewhat amongst the major supplying countries. In July 2023, the highest price was recorded for prices from Germany ($1,271 per ton) and the Netherlands ($1,240 per ton), while the price for Argentina ($943 per ton) and Vietnam ($1,030 per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Argentina (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Starches; Inulin Price in the Philippines (FOB) - 2022
The average starches; inulin export price stood at $794 per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the export price showed a perceptible shrinkage. The pace of growth was the most pronounced in 2013 when the average export price increased by 54%. Over the period under review, the average export prices attained the peak figure at $2,351 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($836 per ton), while the average price for exports to Thailand ($784 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 Thailand (+0.2%), while the prices for the other major destinations experienced a decline.
Starches; Inulin Imports in the Philippines
Starches; inulin imports into the Philippines fell modestly to 169K tons in 2022, dropping by -4.8% compared with 2021 figures. Overall, imports recorded a deep downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 5.3%.
In value terms, starches; inulin imports skyrocketed to $159M in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +10.5% 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 +53.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Starches; Inulin in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 45.8 | 38.7 | 47.0 | 72.2 | 16.4% |
| China | 24.9 | 23.0 | 28.3 | 26.6 | 2.2% |
| Indonesia | 10.3 | 11.0 | 28.0 | 24.2 | 32.9% |
| Vietnam | 10.6 | 5.4 | 3.5 | 13.3 | 7.9% |
| Denmark | 7.1 | 5.4 | 4.6 | 8.2 | 4.9% |
| Netherlands | 7.3 | 7.5 | 5.0 | 4.7 | -13.7% |
| Germany | 2.6 | 3.8 | 4.3 | 4.2 | 17.3% |
| Australia | 2.6 | 1.6 | 1.6 | 1.6 | -14.9% |
| Others | 6.7 | 7.0 | 8.5 | 4.2 | -14.4% |
| Total | 118 | 103 | 131 | 159 | 10.5% |
Top Suppliers of Starches; Inulin to the Philippines in 2022:
- Thailand (70.3K tons)
- China (31.9K tons)
- Indonesia (28.9K tons)
- Vietnam (12.9K tons)
- Denmark (9.6K tons)
- Netherlands (5.3K tons)
- Germany (4.7K tons)
- Australia (2.2K tons)
Starches; Inulin Exports in the Philippines
Starches; inulin exports from the Philippines skyrocketed to 755 tons in 2022, jumping by 61% compared with the previous year's figure. Overall, exports, however, faced a drastic downturn.
In value terms, starches; inulin exports skyrocketed to $600K in 2022. Over the period under review, exports, however, recorded a precipitous decrease.
| Export of Starches; Inulin in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 279 | 216 | 199 | 247 | -4.0% |
| Vietnam | 1,398 | 54.0 | 49.7 | 230 | -45.2% |
| United States | 40.0 | 68.1 | 78.2 | 98.9 | 35.2% |
| Hong Kong SAR | 129 | 8.6 | N/A | N/A | -93.3% |
| Others | 68.6 | 12.3 | 49.9 | 23.6 | -29.9% |
| Total | 1,914 | 359 | 377 | 600 | -32.1% |
Top Export Markets for Starches; Inulin from the Philippines in 2022:
- Thailand (315.2 tons)
- Vietnam (293.0 tons)
- United States (118.4 tons)
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