Philippines: Cheese Market Overview 2021

Cheese Market Size in the Philippines

After six years of growth, the Philippine cheese market decreased by -X% to $X in 2020. In general, consumption, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2010 when the market value increased by X% year-to-year. Over the period under review, the market attained the peak level at $X in 2019, and then dropped sharply in the following year.

Cheese Exports

Exports from the Philippines

Cheese exports from the Philippines contracted significantly to X tonnes in 2020, with a decrease of -X% against 2019. Over the period under review, exports showed a mild decrease. The pace of growth appeared the most rapid in 2013 when exports increased by X% y-o-y. As a result, exports reached the peak of X tonnes. from 2014 to 2020, the growth exports remained at a lower figure.

In value terms, cheese exports shrank rapidly to $X in 2020. Overall, exports recorded a perceptible shrinkage. The growth pace was the most rapid in 2013 when exports increased by X% year-to-year. As a result, exports attained the peak of $X. from 2014 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

The U.S. (X tonnes), Canada (X tonnes) and the United Arab Emirates (X tonnes) were the main destinations of cheese exports from the Philippines, together accounting for X% of total exports. Hong Kong SAR, Qatar, Malaysia and Saudi Arabia lagged somewhat behind, together comprising a further X 2007 to 2020, the biggest increases were in Malaysia (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cheese exported from the Philippines were the U.S. ($X), Canada ($X) and the United Arab Emirates ($X), together accounting for X% of total exports. Hong Kong SAR, Malaysia, Qatar and Saudi Arabia lagged somewhat behind, together comprising a further X terms of the main countries of destination, Malaysia (+X% per year) saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cheese export price stood at $X per tonne in 2020, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2011; however, from 2012 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Malaysia ($X per tonne), while the average price for exports to Saudi Arabia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia, while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into the Philippines

After six years of growth, overseas purchases of cheese decreased by -X% to X tonnes in 2020. Over the period under review, imports, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2016 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2019, and then declined significantly in the following year.

In value terms, cheese imports declined sharply to $X in 2020. Overall, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2010 when imports increased by X% y-o-y. Imports peaked at $X in 2019, and then contracted significantly in the following year.

Imports by Country

New Zealand (X tonnes), the U.S. (X tonnes) and Australia (X tonnes) were the main suppliers of cheese imports to the Philippines, together accounting for X% of total imports. Denmark, Indonesia, Ireland, Germany, China, Poland and Canada lagged somewhat behind, together accounting for a further X 2007 to 2020, the biggest increases were in Indonesia (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese suppliers to the Philippines were New Zealand ($X), the U.S. ($X) and Australia ($X), together accounting for X% of total imports. These countries were followed by Denmark, Ireland, Indonesia, Germany, Poland, China and Canada, which together accounted for a further X (+X% per year) recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average cheese import price amounted to $X per tonne, picking up by X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2010 an increase of X% year-to-year. Over the period under review, average import prices reached the peak figure in 2020 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2020, the highest prices were recorded for prices from New Zealand ($X per tonne) and Ireland ($X per tonne), while the price for China ($X per tonne) and Canada ($X per tonne) were amongst the lowest.

From 2007 to 2020, 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 Platform