Philippines: Buckwheat Market Overview 2021

Buckwheat Market Size in the Philippines

The Philippine buckwheat market skyrocketed to $X in 2019, growing by X% against the previous year. Overall, consumption, however, posted a mild increase. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Buckwheat consumption peaked at $X in 2011; however, from 2012 to 2019, consumption failed to regain the momentum.

Buckwheat Production in the Philippines

In value terms, buckwheat production surged to $X in 2019 estimated in export prices. In general, the total production indicated buoyant growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

In 2019, the average yield of buckwheat in the Philippines amounted to X kg per ha, stabilizing at the year before. In general, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2019, approx. X ha of buckwheat were harvested in the Philippines; approximately equating the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Buckwheat Exports

Exports from the Philippines

In 2019, after two years of decline, there was growth in overseas shipments of buckwheat, when their volume increased by X% to X tonnes. In general, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, exports reached the peak of X tonnes. From 2017 to 2019, the growth exports failed to regain the momentum.

In value terms, buckwheat exports skyrocketed to $X in 2019. Overall, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X% year-to-year. As a result, exports reached the peak of $X. From 2017 to 2019, the growth exports remained at a lower figure.

Exports by Country

Japan (X tonnes) was the main destination for buckwheat exports from the Philippines, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual growth rate of volume to Japan stood at +X%.

In value terms, Japan ($X) also remains the key foreign market for buckwheat exports from the Philippines.

From 2007 to 2019, the average annual growth rate of value to Japan stood at +X%.

Export Prices by Country

In 2019, the average buckwheat export price amounted to $X per tonne, rising by X% against the previous year. Over the period under review, the export price saw a resilient increase. As a result, export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2007 to 2019, the rate of growth in terms of prices for Japan amounted to +X% per year.

Buckwheat Imports

Imports into the Philippines

In 2019, approx. X tonnes of buckwheat were imported into the Philippines; stabilizing at the previous year's figure. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports hit record highs in 2019 and are expected to retain growth in years to come.

In value terms, buckwheat imports amounted to $X in 2019. In general, imports showed a relatively flat trend pattern. Imports peaked in 2019 and are likely to see gradual growth in the near future.

Imports by Country

In 2019, the U.S. (X tonnes) constituted the largest supplier of buckwheat to the Philippines, with a X% share of total imports. Moreover, buckwheat imports from the U.S. exceeded the figures recorded by the second-largest supplier, Canada (X kg), threefold. The third position in this ranking was occupied by Belgium (X kg), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from the U.S. was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Belgium (X% per year).

In value terms, the U.S. ($X) constituted the largest supplier of buckwheat to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by Canada ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from the U.S. was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Belgium (X% per year).

Import Prices by Country

The average buckwheat import price stood at $X per tonne in 2019, therefore, remained relatively stable against the previous year. In general, the import price saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs in 2019 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the U.S. ($X per tonne), while the price for India ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for buckwheat in the world?

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The countries with the highest volumes of buckwheat consumption in 2019 were China (859K tonnes), Russia (723K tonnes) and France (194K tonnes), with a combined 72% share of global consumption. Poland, Ukraine, Japan, the U.S., Brazil, Lithuania and Kazakhstan lagged somewhat behind, together comprising a further 22%.

What are the largest producers of buckwheat in the world?

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The countries with the highest volumes of buckwheat production in 2019 were China (860K tonnes), Russia (786K tonnes) and France (192K tonnes), with a combined 75% share of global production. These countries were followed by Poland, Ukraine, the U.S., Brazil, Lithuania, Kazakhstan and Japan, which together accounted for a further 21%.

What are the leading suppliers of buckwheat to the Philippines?

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In value terms, the U.S. ($1.3K) constituted the largest supplier of buckwheat to the Philippines, comprising 96% of total imports. The second position in the ranking was occupied by Canada ($27), with a 2.1% share of total imports. It was followed by Belgium, with a 1.1% share.

What are the leading importers of buckwheat from the Philippines?

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In value terms, Japan ($14K) remains the key foreign market for buckwheat exports from the Philippines.

What is the average export price for buckwheat in the Philippines?

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In 2019, the average buckwheat export price amounted to $864 per tonne, growing by 114% against the previous year.

What is the average import price for buckwheat in the Philippines?

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The average buckwheat import price stood at $394 per tonne in 2019, flattening at the previous year.