Philippines: Pyrethrum And Peppermint Market Overview 2021

Pyrethrum And Peppermint Market Size in the Philippines

In 2020, after two years of growth, there was significant decline in the Philippine pyrethrum and peppermint market, when its value decreased by -X% to $X. Over the period under review, consumption, however, continues to indicate a buoyant increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the market attained the peak level at $X in 2019, and then contracted significantly in the following year.

Pyrethrum And Peppermint Exports

Exports from the Philippines

In 2020, exports of pyrethrum and peppermint from the Philippines contracted notably to X tonnes, which is down by -X% against 2019 figures. Over the period under review, exports showed a significant decrease. The growth pace was the most rapid in 2019 when exports increased by X% year-to-year. As a result, exports reached the peak of X tonnes, and then declined dramatically in the following year.

In value terms, pyrethrum and peppermint exports contracted markedly to $X in 2020. Overall, exports saw a precipitous contraction. The pace of growth appeared the most rapid in 2019 when exports increased by X% year-to-year. Exports peaked at $X in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Japan (X tonnes) was the main destination for pyrethrum and peppermint exports from the Philippines, with a X% share of total exports. Moreover, pyrethrum and peppermint exports to Japan exceeded the volume sent to the second major destination, Indonesia (X kg), more than tenfold. The third position in this ranking was occupied by Taiwan (Chinese) (X kg), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Japan stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Taiwan (Chinese) (-X% per year).

In value terms, Japan ($X) remains the key foreign market for pyrethrum and peppermint exports from the Philippines, comprising X% of total exports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Japan amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Germany (-X% per year).

Export Prices by Country

The average pyrethrum and peppermint export price stood at $X per tonne in 2020, surging by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. The export price peaked at $X per tonne in 2016; however, from 2017 to 2020, export prices failed to regain the momentum.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese), while the prices for the other major destinations experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports into the Philippines

In 2020, after two years of growth, there was significant decline in supplies from abroad of pyrethrum and peppermint, when their volume decreased by -X% to X tonnes. Overall, imports, however, continue to indicate a slight expansion. The growth pace was the most rapid in 2015 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2019, and then reduced dramatically in the following year.

In value terms, pyrethrum and peppermint imports dropped significantly to $X in 2020. In general, imports, however, recorded mild growth. The pace of growth was the most pronounced in 2015 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at $X in 2019, and then dropped markedly in the following year.

Imports by Country

In 2020, India (X tonnes) constituted the largest pyrethrum and peppermint supplier to the Philippines, accounting for a X% share of total imports. Moreover, pyrethrum and peppermint imports from India exceeded the figures recorded by the second-largest supplier, Turkey (X tonnes), more than tenfold. The third position in this ranking was occupied by China (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from India amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+X% per year) and China (-X% per year).

In value terms, India ($X) constituted the largest supplier of pyrethrum and peppermint to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by Turkey ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2007 to 2020, the average annual growth rate of value from India amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+X% per year) and Cote d'Ivoire (-X% per year).

Import Prices by Country

In 2020, the average pyrethrum and peppermint import price amounted to $X per tonne, which is down by -X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. As a result, import price attained the peak level of $X per tonne. from 2018 to 2020, the growth in terms of the average import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Cote d'Ivoire ($X per tonne), while the price for China ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform