Philippines: Linseed Oil Market Overview 2021

Linseed Oil Market Size in the Philippines

In 2019, the Philippine linseed oil market was finally on the rise to reach $X for the first time since 2016, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a pronounced slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2019, consumption remained at a lower figure.

Linseed Oil Exports

Exports from the Philippines

In 2019, after seven years of growth, there was significant decline in overseas shipments of linseed oil, when their volume decreased by -X% to X tonnes. In general, exports, however, continue to indicate a measured increase. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2018, and then fell rapidly in the following year.

In value terms, linseed oil exports contracted notably to $X in 2019. Overall, exports, however, recorded notable growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2018, and then fell dramatically in the following year.

Exports by Country

The U.S. (X tonnes) and Canada (X tonnes) were the main destinations of linseed oil exports from the Philippines, together accounting for X% of total exports.

From 2007 to 2019, the biggest increases were in Canada (+X% per year).

In value terms, the U.S. ($X) remains the key foreign market for linseed oil exports from the Philippines, comprising X% of total exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to the U.S. was relatively modest.

Export Prices by Country

In 2019, the average linseed oil export price amounted to $X per tonne, picking up by X% against the previous year. Over the period under review, the export price, however, showed a slight decline. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% against the previous year. The export price peaked at $X per tonne in 2015; however, from 2016 to 2019, export prices failed to regain the momentum.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Canada stood at $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the U.S..

Linseed Oil Imports

Imports into the Philippines

In 2019, purchases abroad of linseed oil increased by X% to X tonnes for the first time since 2016, thus ending a two-year declining trend. Overall, imports, however, showed a noticeable shrinkage. The growth pace was the most rapid in 2012 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at X tonnes in 2010; however, from 2011 to 2019, imports stood at a somewhat lower figure.

In value terms, linseed oil imports surged to $X in 2019. In general, imports, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Belgium (X tonnes) constituted the largest linseed oil supplier to the Philippines, accounting for a X% share of total imports. Moreover, linseed oil imports from Belgium exceeded the figures recorded by the second-largest supplier, the Netherlands (X tonnes), fourfold. Germany (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Belgium amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and Germany (-X% per year).

In value terms, Belgium ($X) constituted the largest supplier of linseed oil to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by Germany ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Belgium amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-X% per year) and the Netherlands (+X% per year).

Import Prices by Country

In 2019, the average linseed oil import price amounted to $X per tonne, approximately mirroring the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the average import price increased by X% year-to-year. As a result, import price attained the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Malaysia ($X per tonne), while the price for the Netherlands ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Malaysia, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for linseed oil in the world?

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China (287K tonnes) remains the largest linseed oil consuming country worldwide, accounting for 32% of total volume. Moreover, linseed oil consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (75K tonnes), fourfold. Gambia (67K tonnes) ranked third in terms of total consumption with a 7.4% share.

What are the largest producers of linseed oil in the world?

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China (247K tonnes) constituted the country with the largest volume of linseed oil production, accounting for 31% of total volume. Moreover, linseed oil production in China exceeded the figures recorded by the second-largest producer, Belgium (121K tonnes), twofold. The U.S. (78K tonnes) ranked third in terms of total production with a 9.9% share.

What are the leading suppliers of linseed oil to the Philippines?

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In value terms, Belgium ($507K) constituted the largest supplier of linseed oil to the Philippines, comprising 66% of total imports. The second position in the ranking was occupied by Germany ($115K), with a 15% share of total imports. It was followed by the Netherlands, with a 14% share.

What are the leading importers of linseed oil from the Philippines?

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In value terms, the U.S. ($71K) remains the key foreign market for linseed oil exports from the Philippines, comprising 84% of total exports. The second position in the ranking was occupied by Canada ($14K), with a 16% share of total exports.

What is the average export price for linseed oil in the Philippines?

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The average linseed oil export price stood at $4,447 per tonne in 2019, picking up by 35% against the previous year.

What is the average import price for linseed oil in the Philippines?

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In 2019, the average linseed oil import price amounted to $1,048 per tonne, therefore, remained relatively stable against the previous year.