Philippines: Herbicide Market 2024

Herbicide Market Size in the Philippines

In 2022, the Philippine herbicide market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Herbicide Production in the Philippines

In value terms, herbicide production fell to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Herbicide Exports

Exports from the Philippines

For the third year in a row, the Philippines recorded growth in overseas shipments of herbicides, which increased by X% to X tons in 2022. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, herbicide exports soared to $X in 2022. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for herbicide exports from the Philippines, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled X%.

In value terms, Indonesia ($X) emerged as the key foreign market for herbicides exports from the Philippines.

From 2012 to 2022, the average annual growth rate of value to Indonesia amounted to X%.

Export Prices by Country

The average herbicide export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price faced a abrupt descent. The pace of growth was the most pronounced in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Indonesia.

From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to X% per year.

Herbicide Imports

Imports into the Philippines

For the third year in a row, the Philippines recorded growth in purchases abroad of herbicides, which increased by X% to X tons in 2022. In general, total imports indicated resilient growth from 2017 to 2022: its volume increased at an average annual rate of X% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, herbicide imports skyrocketed to $X in 2022. Over the period under review, imports posted buoyant growth. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest herbicide supplier to the Philippines, with a X% share of total imports. Moreover, herbicide imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold. The third position in this ranking was taken by India (X tons), with a X% share.

From 2017 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and India (X% per year).

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

From 2017 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the average herbicide import price amounted to $X per ton, increasing by X% against the previous year. In general, import price indicated prominent growth from 2017 to 2022: its price increased at an average annual rate of X% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, herbicide import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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