Philippines - Ghee - Market Analysis, Forecast, Size, Trends and Insights

Philippines: Ghee Market Overview 2019

Ghee Market Size in the Philippines

The revenue of the ghee market in the Philippines amounted to $X in 2017, going 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, ghee consumption continues to indicate a strong increase. The most prominent rate of growth was recorded in 2010, when it surged by X% year-to-year. Over the period under review, the ghee market reached its maximum level in 2017, and is expected to retain its growth in the immediate term.

Ghee Exports

Exports from the Philippines

In 2017, ghee exports from the Philippines totaled X tonnes, falling by -X% against the previous year. In general, ghee exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2008, when exports increased by X% year-to-year. Over the period under review, the ghee exports attained its maximum volume of X tonnes in 2015; however, from 2016 to 2017, it stood at a somewhat lower level.

In value terms, ghee exports totaled $X in 2017. In general, ghee exports continue to indicate a prominent growth. Over the period under review, the ghee exports attained its peak figure level of $X in 2013; however, from 2014 to 2017, it failed to regain its momentum.

Exports by Country

China, Hong Kong SAR (X tonnes), Viet Nam (X tonnes) and the U.S. (X tonnes) were the main destinations of ghee exports from the Philippines, together comprising X% of total exports. The United Arab Emirates, Australia and Brunei Darussalam lagged somewhat behind, together comprising a further X%.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Australia (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Viet Nam ($X), China, Hong Kong SAR ($X) and the United Arab Emirates ($X) were the largest markets for ghee exported from the Philippines worldwide, together comprising X% of total exports.

The United Arab Emirates (+X% per year) recorded the highest rates of growth with regard to exports,among the main countries of destination over the last decade, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2017, the average ghee export price amounted to $X per tonne, rising by X% against the previous year. In general, ghee export price continues to indicate a moderate growth. The growth pace was the most rapid in 2017, when the average export price increased by X% against the previous year. Over the period under review, the average export prices for ghee attained its maximum level of $X per tonne in 2008; however, from 2009 to 2017, it failed to regain its momentum.

There were significant differences in the average export prices for the major foreign markets. In 2017, the country with the highest export price was Viet Nam ($X per tonne), while average price for exports to the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was recorded for supplies to China, Hong Kong SAR (+X% per year), the export prices for other major destinations experienced more modest paces of growth.

Ghee Imports

Imports into the Philippines

In 2017, imports of ghee into the Philippines stood at X tonnes, rising by X% against the previous year. Overall, ghee imports continue to indicate a remarkable growth. The pace of growth appeared the most rapid in 2016, when it surged by X% y-o-y. Over the period under review, the ghee imports reached its peak figure volume in 2017, and are expected to retain its growth in the immediate term.

In value terms, ghee imports stood at $X in 2017. In general, ghee imports continue to indicate a strong increase. Over the period under review, the ghee imports reached its peak figure level in 2017, and are likely to see steady growth in the immediate term.

Imports by Country

In 2017, New Zealand (X tonnes) was the main ghee supplier to the Philippines, with a X% share of total imports. It was followed by China (X tonnes), with a X% share of total imports.

From 2007 to 2017, the average annual rate of growth in terms of volume from New Zealand stood at +X%.

In value terms, New Zealand ($X) constituted the largest supplier of ghee to the Philippines, making up X% of total ghee imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports.

From 2007 to 2017, the average annual rate of growth in terms of value from New Zealand stood at +X%.

Import Prices by Country

The average ghee import price stood at $X per tonne in 2017, going up by X% against the previous year. In general, the import price indicated a prominent growth from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2010, an increase of X% y-o-y. The import price peaked in 2017, and is expected to retain its growth in the immediate term.

Average import prices varied noticeably amongst the major supplying countries. In 2017, the country with the highest import price was New Zealand ($X per tonne), while price for China totaled $X per tonne.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by New Zealand (+X% per year).