Philippines: Dried Grapes Market 2023

Dried Grapes Market Size in the Philippines

In 2021, the Philippine dried grapes market increased by 20% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption recorded a buoyant expansion. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Dried Grapes Exports

Exports from the Philippines

In 2021, overseas shipments of dried grapes increased by 620% to X tons, rising for the third consecutive year after two years of decline. In general, exports recorded measured growth. The growth pace was the most rapid in 2020 when exports increased by 6,412%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, dried grapes exports soared to $X in 2021. Over the period under review, exports recorded prominent growth. The growth pace was the most rapid in 2020 when exports increased by 6,632% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for dried grapes exports from the Philippines, accounting for a 56% share of total exports. Moreover, dried grapes exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X tons), fourfold. Sweden (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +34.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (0.0% per year) and Sweden (0.0% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for dried grapes exports from the Philippines, comprising 75% of total exports. The second position in the ranking was taken by Qatar ($X), with a 7.7% share of total exports. It was followed by Sweden, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at +28.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (0.0% per year) and Sweden (0.0% per year).

Export Prices by Country

The average dried grapes export price stood at $X per ton in 2021, increasing by 2.2% against the previous year. In general, the export price continues to indicate a prominent increase. The growth pace was the most rapid in 2014 when the average export price increased by 599% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-4.2%), while the prices for the other major destinations experienced a decline.

Dried Grapes Imports

Imports into the Philippines

In 2021, approx. X tons of dried grapes were imported into the Philippines; jumping by 21% on the previous year. Overall, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +26.9% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, dried grapes imports skyrocketed to $X in 2021. In general, imports enjoyed prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 68% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of dried grapes to the Philippines, with a 89% share of total imports. Moreover, dried grapes imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.1% per year) and India (-11.7% per year).

In value terms, the United States ($X) constituted the largest supplier of dried grapes to the Philippines, comprising 89% of total imports. The second position in the ranking was taken by China ($X), with a 5% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.0% per year) and India (+0.3% per year).

Import Prices by Country

The average dried grapes import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dried grapes import price decreased by -19.8% against 2018 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 59% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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