Philippines: Jute Market Overview 2020

Jute Market Size in the Philippines

The revenue of the jute market in the Philippines amounted to $X in 2018, increasing 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, jute consumption continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 when the market value increased by X% against the previous year. In that year, the jute market reached its peak level of $X. From 2014 to 2018, the growth of the jute market remained at a somewhat lower figure.

Jute Exports

Exports from the Philippines

In 2018, the amount of jute and other textile fibres exported from the Philippines amounted to X tonnes, rising by X% against the previous year. In general, jute exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2018 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2013; however, from 2014 to 2018, exports failed to regain their momentum.

In value terms, jute exports stood at $X in 2018. In general, jute exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Over the period under review, jute exports attained their peak figure at $X in 2013; however, from 2014 to 2018, exports remained at a lower figure.

Exports by Country

Japan (X tonnes) was the main destination for jute exports from the Philippines, accounting for a X% share of total exports. Moreover, jute exports to Japan exceeded the volume sent to the second major destination, Spain (X tonnes), ninefold. The third position in this ranking was occupied by the U.S. (X kg), with a X% share.

From 2007 to 2018, the average annual growth rate of volume to Japan amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-X% per year) and the U.S. (+X% per year).

In value terms, the largest markets for jute exported from the Philippines were the U.S. ($X), Japan ($X) and China, Hong Kong SAR ($X), together accounting for X% of total exports.

The U.S. (+X% per year) experienced the highest rates of growth with regard to exports, among the main countries of destination over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average jute export price amounted to $X per tonne, coming down by -X% against the previous year. In general, the jute export price, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2012 an increase of X% y-o-y. The export price peaked at $X per tonne in 2016; however, from 2017 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was China, Hong Kong SAR ($X per tonne), while the average price for exports to Viet Nam ($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 the U.S., while the prices for the other major destinations experienced more modest paces of growth.

Jute Imports

Imports into the Philippines

In 2018, approx. X tonnes of jute and other textile fibres were imported into the Philippines; jumping by X% against the previous year. In general, jute imports continue to indicate a remarkable expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. In that year, jute imports attained their peak of X tonnes. From 2014 to 2018, the growth of jute imports remained at a lower figure.

In value terms, jute imports stood at $X in 2018. In general, jute imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2008 when imports increased by X% against the previous year. Over the period under review, jute imports reached their maximum at $X in 2013; however, from 2014 to 2018, imports remained at a lower figure.

Imports by Country

Kenya (X tonnes), Bangladesh (X tonnes) and Tanzania (X tonnes) were the main suppliers of jute imports to the Philippines, with a combined X% share of total imports. These countries were followed by the UK, Indonesia and the Netherlands, 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 the UK (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Kenya ($X) constituted the largest supplier of jute to the Philippines, comprising X% of total jute imports. The second position in the ranking was occupied by Bangladesh ($X), with a X% share of total imports. It was followed by Tanzania, with a X% share.

From 2007 to 2018, the average annual growth rate of value from Kenya amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+X% per year) and Tanzania (+X% per year).

Import Prices by Country

In 2018, the average jute import price amounted to $X per tonne, growing by X% against the previous year. Overall, the import price indicated a moderate increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, jute import price increased by +X% against 2015 indices. The growth pace was the most rapid in 2011 when the average import price increased by X% year-to-year. Over the period under review, the average import prices for jute and other textile fibres attained their peak figure at $X per tonne in 2012; however, from 2013 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was the Netherlands ($X per tonne), while the price for Indonesia ($X per tonne) was amongst the lowest.

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

Source: IndexBox AI Platform