Philippines: Olive Market Overview 2021

Olive Market Size in the Philippines

The Philippine olive market totaled $X in 2020, rising 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, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2014 when the market value increased by X% year-to-year. Olive consumption peaked at $X in 2015; however, from 2016 to 2020, consumption failed to regain the momentum.

Olive Exports

Exports from the Philippines

In 2020, after two years of decline, there was decline in overseas shipments of olives, when their volume decreased by X% to X kg. In general, exports showed a relatively flat trend pattern. Exports peaked at X tonnes in 2017; however, from 2018 to 2020, exports failed to regain the momentum.

In value terms, olive exports stood at $X in 2020. Over the period under review, exports continue to indicate a relatively flat trend pattern. Exports peaked at $X in 2017; however, from 2018 to 2020, exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tonnes) was the main destination for olive exports from the Philippines, with a X% share of total exports. Moreover, olive exports to Hong Kong SAR exceeded the volume sent to the second major destination, the U.S. (X tonnes), twofold. Saudi Arabia (X tonnes) ranked third in terms of total exports with a X% share.

From 2012 to 2017, the average annual rate of growth in terms of volume to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (X% per year) and Saudi Arabia (X% per year).

In value terms, the largest markets for olive exported from the Philippines were the U.S. ($X), Hong Kong SAR ($X) and Saudi Arabia ($X), with a combined X% share of total exports. These countries were followed by the United Arab Emirates, Qatar and Kuwait, which together accounted for a further X United Arab Emirates saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2017, the average olive export price amounted to $X per tonne, almost unchanged from the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. Over the period under review, average export prices hit record highs in 2017 and is likely to continue growth in the near future.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Kuwait ($X per tonne) was amongst the lowest.

From 2012 to 2017, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates, while the prices for the other major destinations experienced more modest paces of growth.

Olive Imports

Imports into the Philippines

In 2020, approx. X tonnes of olives were imported into the Philippines; with a decrease of -X% against 2019. In general, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tonnes in 2017; however, from 2018 to 2020, imports remained at a lower figure.

In value terms, olive imports skyrocketed to $X in 2020. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Italy (X tonnes) was the main olive supplier to the Philippines, with a X% share of total imports. Moreover, olive imports from Italy exceeded the figures recorded by the second-largest supplier, France (X kg), more than tenfold.

From 2012 to 2020, the average annual rate of growth in terms of volume from Italy amounted to +X%.

In value terms, the largest olive suppliers to the Philippines were Italy ($X) and France ($X saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average olive import price stood at $X per tonne in 2020, increasing by X% against the previous year. In general, the import price, however, saw a abrupt curtailment. Over the period under review, average import prices hit record highs at $X per tonne in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was France ($X per tonne), while the price for Italy amounted to $X per tonne.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by France.

Source: IndexBox Platform