Philippines: Salt Market Overview 2021

Salt Market Size in the Philippines

For the tenth year in a row, the Philippine salt market recorded growth in sales value, which increased by X% to $X in 2019. Over the period under review, consumption recorded a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Salt Production in the Philippines

In value terms, salt production rose sharply to $X in 2019 estimated in export prices. In general, production continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2011 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level in 2019 and is likely to see gradual growth in years to come.

Salt Exports

Exports from the Philippines

In 2019, overseas shipments of salt and pure sodium chloride were finally on the rise to reach X tonnes for the first time since 2016, thus ending a two-year declining trend. Overall, exports, however, recorded a abrupt setback. Exports peaked at X tonnes in 2011; however, from 2012 to 2019, exports stood at a somewhat lower figure.

In value terms, salt exports expanded rapidly to $X in 2019. In general, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure in 2019 and are expected to retain growth in the immediate term.

Exports by Country

Japan (X tonnes), Papua New Guinea (X tonnes) and the U.S. (X tonnes) were the main destinations of salt exports from the Philippines, together comprising X% of total exports.

From 2007 to 2019, the biggest increases were in Papua New Guinea, while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for salt exported from the Philippines were Papua New Guinea ($X), Japan ($X) and the U.S. ($X), with a combined X% share of total exports.

Papua New Guinea (+X% per year) recorded the highest growth rate of 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 2019, the average salt export price amounted to $X per tonne, waning by -X% against the previous year. Overall, the export price, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, export price reached the peak level of $X per tonne, and then declined markedly in the following year.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea, while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into the Philippines

Salt imports into the Philippines soared to X tonnes in 2019, increasing by X% against the previous year's figure. Overall, total imports indicated a temperate expansion from 2007 to 2019: its volume 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. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, salt imports surged to $X in 2019. In general, total imports indicated noticeable growth from 2007 to 2019: its value 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2019, Australia (X tonnes) constituted the largest salt supplier to the Philippines, with a X% share of total imports. Moreover, salt imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tonnes), fivefold.

From 2007 to 2019, the average annual growth rate of volume from Australia stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and India (+X% per year).

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

From 2007 to 2019, the average annual growth rate of value from Australia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and India (+X% per year).

Import Prices by Country

The average salt import price stood at $X per tonne in 2019, with a decrease of -X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by X% year-to-year. Over the period under review, average import prices attained the peak figure at $X per tonne in 2011; however, from 2012 to 2019, import prices failed to regain the momentum.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, 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 salt and pure sodium chloride in the world?

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The countries with the highest volumes of salt consumption in 2019 were China (77M tonnes), the U.S. (62M tonnes) and India (18M tonnes), together accounting for 51% of global consumption. These countries were followed by Australia, Germany, Canada, Brazil, Mexico, France, the UK and Turkey, which together accounted for a further 22%.

What are the largest producers of salt and pure sodium chloride in the world?

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The countries with the highest volumes of salt production in 2019 were China (69M tonnes), the U.S. (42M tonnes) and India (31M tonnes), together accounting for 47% of global production. These countries were followed by Canada, Germany, Australia, Chile, Mexico, Brazil, Egypt, Turkey, France and the Netherlands, which together accounted for a further 29%.

What are the leading suppliers of salt and pure sodium chloride to the Philippines?

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In value terms, Australia ($26M) constituted the largest supplier of salt to the Philippines, comprising 71% of total imports. The second position in the ranking was occupied by China ($6.5M), with a 18% share of total imports.

What are the leading importers of salt and pure sodium chloride from the Philippines?

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In value terms, Papua New Guinea ($260K), Japan ($142K) and the U.S. ($67K) constituted the largest markets for salt exported from the Philippines worldwide, with a combined 99% share of total exports.

What is the average export price for salt and pure sodium chloride in the Philippines?

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In 2019, the average salt export price amounted to $1,459 per tonne, which is down by -58.7% against the previous year.

What is the average import price for salt and pure sodium chloride in the Philippines?

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In 2019, the average salt import price amounted to $51 per tonne, dropping by -3.5% against the previous year.