Philippines: Salt Market Overview 2020

Salt Market Size in the Philippines

The revenue of the salt market in the Philippines amounted to $X in 2018, jumping by X% against the previous year. In general, the total market indicated a prominent expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, salt consumption decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. Over the period under review, the salt market reached its maximum level at $X in 2016; however, from 2017 to 2018, consumption remained at a lower figure.

Salt Production in the Philippines

In value terms, salt production amounted to $X in 2018 estimated in export prices. In general, salt production continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2011 with an increase of X% against the previous year. Over the period under review, salt production reached its maximum level in 2018 and is likely to continue its growth in the near future.

Salt Exports

Exports from the Philippines

Salt exports from the Philippines amounted to X tonnes in 2018, shrinking by -X% against the previous year. In general, salt exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. Over the period under review, salt exports reached their maximum at X tonnes in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

In value terms, salt exports amounted to $X in 2018. Overall, salt exports continue to indicate a deep decline. The most prominent rate of growth was recorded in 2011 when exports increased by X% y-o-y. In that year, salt exports reached their peak of $X. From 2012 to 2018, the growth of salt exports failed to regain its momentum.

Exports by Country

Japan (X tonnes) was the main destination for salt exports from the Philippines, with a X% share of total exports. Moreover, salt exports to Japan exceeded the volume sent to the second major destination, Papua New Guinea (X tonnes), ninefold. The third position in this ranking was occupied by the U.S. (X tonnes), with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume to Japan totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (-X% per year) and the U.S. (+X% per year).

In value terms, Japan ($X), Marshall Islands ($X) and the U.S. ($X) appeared to be the largest markets for salt exported from the Philippines worldwide, with a combined X% share of total exports.

Marshall Islands (+X% per year) recorded the highest growth rate of exports, in terms of the main countries of destination over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The average salt export price stood at $X per tonne in 2018, standing approx. at the previous year. Over the period under review, the salt export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2011 an increase of X% year-to-year. In that year, the average export prices for salt and pure sodium chloride attained their peak level of $X per tonne. From 2012 to 2018, the growth in terms of the average export prices for salt and pure sodium chloride remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Marshall Islands ($X per tonne), while the average price for exports to Papua New Guinea ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Marshall Islands, 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 totaled X tonnes in 2018, coming down by -X% against the previous year. Over the period under review, salt imports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. In that year, salt imports attained their peak of X tonnes, and then declined slightly in the following year.

In value terms, salt imports totaled $X in 2018. In general, salt imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X% year-to-year. Over the period under review, salt imports attained their peak figure at $X in 2010; however, from 2011 to 2018, imports remained at a lower figure.

Imports by Country

In 2018, Australia (X tonnes) constituted the largest supplier of salt to the Philippines, accounting for a X% share of total imports. Moreover, salt imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tonnes), sixfold.

From 2007 to 2018, the average annual growth rate of volume from Australia was relatively modest.

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

From 2007 to 2018, the average annual growth rate of value from Australia was relatively modest.

Import Prices by Country

The average salt import price stood at $X per tonne in 2018, going up by X% against the previous year. In general, the salt import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X% y-o-y. Over the period under review, the average import prices for salt and pure sodium chloride reached their maximum at $X per tonne in 2016; however, from 2017 to 2018, import prices remained at a lower figure.

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

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China.

Source: IndexBox AI Platform