Philippines: Olive Market Overview 2021

Olive Market Size in the Philippines

In 2019, after two years of growth, there was significant decline in the Philippine olive market, when its value decreased by -X% to $X. Overall, consumption, however, posted a strong increase. The pace of growth was the most pronounced in 2014 with an increase of X% year-to-year. Olive consumption peaked at $X in 2015; however, from 2016 to 2019, consumption failed to regain the momentum.

Olive Production in the Philippines

In value terms, olive production totaled $X in 2019 estimated in export prices. Overall, production recorded a significant increase. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2019, production failed to regain the momentum.

The average yield of olives in the Philippines totaled X kg per ha in 2019, approximately reflecting the year before. In general, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2019, approx. X ha of olives were harvested in the Philippines; leveling off at the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Olive Exports

Exports from the Philippines

In 2019, the amount of olives exported from the Philippines amounted to X kg, therefore, remained relatively stable against the previous year. In general, exports continue to indicate a relatively flat trend pattern. Over the period under review, exports hit record highs at X tonnes in 2017; however, from 2018 to 2019, exports failed to regain the momentum.

In value terms, olive exports stood at $X in 2019. Over the period under review, exports recorded a relatively flat trend pattern. Exports peaked at $X in 2017; however, from 2018 to 2019, exports stood at a somewhat 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 U.S. ($X), Hong Kong SAR ($X) and Saudi Arabia ($X) constituted the largest markets for olive exported from the Philippines worldwide, with a combined X% share of total exports. The United Arab Emirates, Qatar and Kuwait lagged somewhat behind, together accounting for a further X the main countries of destination, the United Arab Emirates recorded the highest rates of growth with regard to the value of exports, 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, flattening at the previous year. In general, the export price showed a relatively flat trend pattern. The export price peaked in 2017 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2017, 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 2019, approx. X tonnes of olives were imported into the Philippines; with a decrease of -X% against the previous year. In general, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. Imports peaked at X tonnes in 2017; however, from 2018 to 2019, imports remained at a lower figure.

In value terms, olive imports plummeted to $X in 2019. Overall, imports, however, recorded a perceptible decrease. The growth pace was the most rapid in 2017 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Jordan (X tonnes) constituted the largest olive supplier to the Philippines, accounting for a X% share of total imports. Moreover, olive imports from Jordan exceeded the figures recorded by the second-largest supplier, Italy (X kg), fourfold.

From 2012 to 2019, the average annual growth rate of volume from Jordan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and France (+X% per year).

In value terms, Jordan ($X) constituted the largest supplier of olive to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by Italy ($X), with a X% share of total imports.

From 2012 to 2019, the average annual growth rate of value from Jordan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-X% per year) and France (-X% per year).

Import Prices by Country

The average olive import price stood at $X per tonne in 2019, falling by -X% against the previous year. In general, the import price faced a precipitous decline. The most prominent rate of growth was recorded in 2018 an increase of X% year-to-year. The import price peaked at $X per tonne in 2012; however, from 2013 to 2019, import prices failed to regain the momentum.

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

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by Jordan, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for olives in the world?

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Spain (6M tonnes) constituted the country with the largest volume of olive consumption, comprising approx. 31% of total volume. Moreover, olive consumption in Spain exceeded the figures recorded by the second-largest consumer, Italy (2.2M tonnes), threefold. Morocco (1.9M tonnes) ranked third in terms of total consumption with a 9.8% share.

What are the largest producers of olives in the world?

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Spain (6M tonnes) remains the largest olive producing country worldwide, comprising approx. 31% of total volume. Moreover, olive production in Spain exceeded the figures recorded by the second-largest producer, Italy (2.2M tonnes), threefold. Morocco (1.9M tonnes) ranked third in terms of total production with a 9.8% share.

What are the leading suppliers of olives to the Philippines?

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In value terms, Jordan ($3.6K) constituted the largest supplier of olive to the Philippines, comprising 60% of total imports. The second position in the ranking was occupied by Italy ($1.4K), with a 23% share of total imports.

What are the leading importers of olives from the Philippines?

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In value terms, the largest markets for olive exported from the Philippines were the U.S. ($19K), Hong Kong SAR ($15K) and Saudi Arabia ($3.9K), together accounting for 92% of total exports. The United Arab Emirates, Qatar and Kuwait lagged somewhat behind, together accounting for a further 6.2%.

What is the average export price for olives in the Philippines?

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The average olive export price stood at $1,260 per tonne in 2017, almost unchanged from the previous year.

What is the average import price for olives in the Philippines?

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In 2019, the average olive import price amounted to $1,704 per tonne, declining by -39.3% against the previous year.