Sulphites; Thiosulphates Price in the Philippines - 2023

Sulphites; Thiosulphates Price in the Philippines (CIF) - 2022

The average sulphites; thiosulphates import price stood at $618 per ton in 2022, picking up by 25% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +10.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average import price increased by 63% against the previous year. Over the period under review, average import prices reached the peak figure at $655 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($1,208 per ton), while the price for China ($454 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Sulphites; Thiosulphates Price in the Philippines (FOB) - 2022

In 2022, the average sulphites; thiosulphates export price amounted to $25,764 per ton, increasing by 2.2% against the previous year. In general, the export price showed a significant increase. The pace of growth was the most pronounced in 2016 an increase of 890%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($25,765 per ton), while the average price for exports to Singapore amounted to $25,700 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphites; Thiosulphates Imports in the Philippines

For the fourth consecutive year, the Philippines recorded growth in overseas purchases of sulphites; thiosulphateses, which increased by 51% to 23K tons in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +18.3% 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 +65.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphites; thiosulphates imports soared to $14M in 2022. In general, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Sulphites; Thiosulphates in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	4.0	4.2	3.7	5.7	12.5%
China	1.4	1.2	2.3	5.4	56.8%
Japan	1.3	0.2	0.8	2.4	22.7%
Germany	0.5	0.8	0.1	0.7	11.9%
Others	0.6	0.9	0.5	N/A	-8.7%
Total	7.9	7.3	7.5	14.2	21.6%

Top Suppliers of Sulphites; Thiosulphates to the Philippines in 2022:

China (11.8K tons)
Thailand (8.4K tons)
Japan (2.0K tons)
Germany (0.8K tons)

Sulphites; Thiosulphates Exports in the Philippines

In 2022, approx. 576 kg of sulphites; thiosulphateses were exported from the Philippines; reducing by -51.1% compared with the year before. Overall, exports saw a sharp descent.

In value terms, sulphites; thiosulphates exports declined dramatically to $15K in 2022. Over the period under review, exports showed a precipitous descent.