Philippines: Cheese Market Overview 2020

Cheese Market Size in the Philippines

The revenue of the cheese market in the Philippines amounted to $X in 2018, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, cheese consumption continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Over the period under review, the cheese market attained its maximum level in 2018 and is expected to retain its growth in the immediate term.

Cheese Exports

Exports from the Philippines

In 2018, the amount of cheese exported from the Philippines amounted to X tonnes, falling by -X% against the previous year. Overall, cheese exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2013 when exports increased by X% year-to-year. In that year, cheese exports attained their peak of X tonnes. From 2014 to 2018, the growth of cheese exports remained at a lower figure.

In value terms, cheese exports amounted to $X in 2018. Overall, cheese exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by X% year-to-year. In that year, cheese exports reached their peak of $X. From 2014 to 2018, the growth of cheese exports remained at a somewhat lower figure.

Exports by Country

China (X tonnes) was the main destination for cheese exports from the Philippines, with a X% share of total exports. Moreover, cheese exports to China exceeded the volume sent to the second major destination, Indonesia (X tonnes), tenfold. The third position in this ranking was occupied by China, Hong Kong SAR (X tonnes), with a X% share.

From 2007 to 2018, the average annual growth rate of volume to China stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-X% per year) and China, Hong Kong SAR (+X% per year).

In value terms, China ($X) remains the key foreign market for cheese exports from the Philippines, comprising X% of total cheese exports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total exports. It was followed by China, Hong Kong SAR, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value to China amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-X% per year) and China, Hong Kong SAR (+X% per year).

Export Prices by Country

The average cheese export price stood at $X per tonne in 2018, dropping by -X% against the previous year. In general, the cheese export price continues to indicate a drastic reduction. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% y-o-y. In that year, the average export prices for cheese attained their peak level of $X per tonne. From 2012 to 2018, the growth in terms of the average export prices for cheese failed to regain its momentum.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Indonesia ($X per tonne), while the average price for exports to China ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan, Chinese, while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into the Philippines

Cheese imports into the Philippines stood at X tonnes in 2018, growing by X% against the previous year. Overall, cheese imports continue to indicate a prominent increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, cheese imports reached their maximum in 2018 and are expected to retain its growth in the near future.

In value terms, cheese imports stood at $X in 2018. Over the period under review, cheese imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, cheese imports attained their maximum in 2018 and are likely to see steady growth in the immediate term.

Imports by Country

New Zealand (X tonnes), Australia (X tonnes) and the U.S. (X tonnes) were the main suppliers of cheese imports to the Philippines, with a combined X% share of total imports. These countries were followed by Denmark, Indonesia, India, Uruguay and Ireland, which together accounted for a further X 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Ireland, while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Australia ($X) and the U.S. ($X) were the largest cheese suppliers to the Philippines, with a combined X% share of total imports. Denmark, Indonesia, India, Uruguay and Ireland lagged somewhat behind, together accounting for a further X terms of the main suppliers, Ireland recorded the highest rates of growth with regard to imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cheese import price stood at $X per tonne in 2018, lowering by -X% against the previous year. Over the period under review, the cheese import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when the average import price increased by X% against the previous year. Over the period under review, the average import prices for cheese attained their peak figure at $X per tonne in 2014; however, from 2015 to 2018, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2018, the countries with the highest prices were Australia ($X per tonne) and New Zealand ($X per tonne), while the price for India ($X per tonne) and Uruguay ($X per tonne) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Indonesia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform