Philippines: Frozen Potato Market 2022

Frozen Potato Market Size in the Philippines

The Philippine frozen potato market soared to $X in 2021, 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). In general, consumption continues to indicate prominent growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Frozen Potato Exports

Exports from the Philippines

In 2021, shipments abroad of frozen potatoes decreased by -X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, frozen potato exports contracted markedly to $X in 2021. In general, exports recorded a deep slump. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for frozen potato exports from the Philippines, accounting for a X% share of total exports. Moreover, frozen potato exports to Hong Kong SAR exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR was relatively modest.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR was relatively modest.

Export Prices by Country

In 2021, the average frozen potato export price amounted to $X per ton, which is down by -X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Japan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%).

Frozen Potato Imports

Imports into the Philippines

In 2021, the amount of frozen potatoes imported into the Philippines soared to X tons, surging by X% on 2020 figures. In general, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, frozen potato imports skyrocketed to $X in 2021. Overall, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest frozen potato supplier to the Philippines, accounting for a X% share of total imports. Moreover, frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of frozen potato to the Philippines, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and India (+X% per year).

Import Prices by Country

The average frozen potato import price stood at $X per ton in 2021, increasing by X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2019; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from New Zealand ($X per ton) and the United States ($X per ton), while the price for Belgium ($X per ton) and India ($X per ton) were amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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