Latest Report Update: Apr 15, 2021

Philippines - Refined Soybean Oil And Its Fractions - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact

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Philippines: Refined Soybean Oil Market Overview 2021

Refined Soybean Oil Market Size in the Philippines

In 2019, the Philippine refined soybean oil market decreased by -X% to $X, falling for the second year in a row after four years of growth. Overall, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X. From 2009 to 2019, the growth of the market remained at a somewhat lower figure.

Refined Soybean Oil Production in the Philippines

In value terms, refined soybean oil production declined to $X in 2019 estimated in export prices. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2009 to 2019, production growth remained at a lower figure.

Refined Soybean Oil Exports

Exports from the Philippines

Refined soybean oil exports from the Philippines amounted to X kg in 2019, remaining constant against 2018 figures. Overall, exports recorded a mild curtailment. Over the period under review, exports reached the peak figure at X tonnes in 2012; however, from 2013 to 2019, exports failed to regain the momentum.

In value terms, refined soybean oil exports amounted to $X in 2019. Over the period under review, exports showed a abrupt decline. Exports peaked at $X in 2012; however, from 2013 to 2019, exports stood at a somewhat lower figure.

Exports by Country

The U.S. (X tonnes) was the main destination for refined soybean oil exports from the Philippines, with a approx. X% share of total exports.

From 2007 to 2015, the average annual rate of growth in terms of volume to the U.S. stood at -X%.

From 2007 to 2015, the average annual rate of growth in terms of value to the U.S. stood at +X%.

Export Prices by Country

The average refined soybean oil export price stood at $X per tonne in 2015, approximately reflecting the previous year. Over the period under review, the export price recorded a deep setback. Over the period under review, average export prices reached the peak figure at $X per tonne in 2012; however, from 2013 to 2015, export prices failed to regain the momentum.

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

From 2007 to 2015, the rate of growth in terms of prices for the U.S. amounted to +X% per year.

Refined Soybean Oil Imports

Imports into the Philippines

In 2019, the amount of refined soybean oil and its fractions imported into the Philippines expanded rapidly to X tonnes, increasing by X% on the previous year's figure. Overall, imports saw temperate growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X tonnes. From 2018 to 2019, the growth imports remained at a lower figure.

In value terms, refined soybean oil imports rose significantly to $X in 2019. In general, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Imports peaked at $X in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Thailand (X tonnes) constituted the largest supplier of refined soybean oil to the Philippines, with a X% share of total imports. Moreover, refined soybean oil imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X tonnes), twofold. The third position in this ranking was occupied by Viet Nam (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Thailand amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-X% per year) and Viet Nam (+X% per year).

In value terms, the largest refined soybean oil suppliers to the Philippines were Thailand ($X), Malaysia ($X) and Viet Nam ($X), together comprising X% of total imports.

Among the main suppliers, Viet Nam recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2019, the average refined soybean oil import price amounted to $X per tonne, approximately mirroring the previous year. Over the period under review, import price indicated pronounced growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, refined soybean oil import price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2010 an increase of X% year-to-year. Over the period under review, average import prices hit record highs at $X per tonne in 2011; however, from 2012 to 2019, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2019, the countries with the highest prices were Singapore ($X per tonne) and Malaysia ($X per tonne), while the price for Viet Nam ($X per tonne) and Thailand ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Singapore, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined soybean oil and its fractions in the world?
+
The country with the largest volume of refined soybean oil consumption was China (1.8M tonnes), comprising approx. 16% of total volume. Moreover, refined soybean oil consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (808K tonnes), twofold. India (734K tonnes) ranked third in terms of total consumption with a 6.6% share.
What are the largest producers of refined soybean oil and its fractions in the world?
+
China (2M tonnes) constituted the country with the largest volume of refined soybean oil production, accounting for 17% of total volume. Moreover, refined soybean oil production in China exceeded the figures recorded by the second-largest producer, the U.S. (806K tonnes), twofold. The third position in this ranking was occupied by India (723K tonnes), with a 6.4% share.
What are the leading suppliers of refined soybean oil and its fractions to the Philippines?
+
In value terms, Thailand ($11M), Malaysia ($6M) and Viet Nam ($1M) appeared to be the largest refined soybean oil suppliers to the Philippines, with a combined 91% share of total imports.
What is the average export price for refined soybean oil and its fractions in the Philippines?
+
The average refined soybean oil export price stood at $1,136 per tonne in 2015, approximately mirroring the previous year.
What is the average import price for refined soybean oil and its fractions in the Philippines?
+
The average refined soybean oil import price stood at $1,009 per tonne in 2019, stabilizing at the previous year.

Product coverage:
• Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the refined soybean oil market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Philippines

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the Philippines
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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