Philippines: Preserved Asparagus Market 2024

Preserved Asparagus Market Size in the Philippines

The Philippine preserved asparagus market rose modestly to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Preserved Asparagus Production in the Philippines

In value terms, preserved asparagus production expanded modestly to $X in 2022 estimated in export price. Overall, the total production indicated a notable 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

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Preserved Asparagus Exports

Exports from the Philippines

In 2019, shipments abroad of preserved asparagus decreased by X% to X kg for the first time since 2015, thus ending a three-year declining trend. Overall, exports recorded a sharp curtailment. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2019, the exports remained at a lower figure.

In value terms, preserved asparagus exports dropped sharply to $X in 2019. In general, exports faced a sharp decline. The smallest decline of X% was in 2015. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2019, the exports remained at a lower figure.

Exports by Country

Honduras (X kg) was the main destination for preserved asparagus exports from the Philippines, with a approx. X% share of total exports.

From 2013 to 2019, the average annual rate of growth in terms of volume to Honduras was relatively modest.

In value terms, Honduras ($X) emerged as the key foreign market for preserved asparagus exports from the Philippines.

From 2013 to 2019, the average annual rate of growth in terms of value to Honduras was relatively modest.

Export Prices by Country

In 2019, the average preserved asparagus export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price continues to indicate a pronounced increase. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2019, the average export prices failed to regain momentum.

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

From 2013 to 2019, the rate of growth in terms of prices for Turkey amounted to X% per year.

Preserved Asparagus Imports

Imports into the Philippines

In 2022, the amount of preserved asparagus imported into the Philippines surged to X tons, increasing by X% against 2021 figures. Overall, imports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2015 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, preserved asparagus imports expanded remarkably to $X in 2022. Over the period under review, total imports indicated modest growth 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, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest preserved asparagus supplier to the Philippines, accounting for a X% share of total imports. Moreover, preserved asparagus imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Spain (X% per year).

In value terms, China ($X) constituted the largest supplier of preserved asparagus to the Philippines, comprising X% of total imports. The second position in the ranking was held by Spain ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and Singapore (X% per year).

Import Prices by Country

The average preserved asparagus import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the import price, however, showed a prominent increase. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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