Philippines: Tilapias Market 2022

Tilapias Market Size in the Philippines

In 2021, the Philippine tilapias market decreased by -X% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Tilapias Production in the Philippines

In value terms, tilapias production declined remarkably to $X in 2021 estimated in export price. In general, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then dropped rapidly in the following year.

Tilapias Exports

Exports from the Philippines

In 2021, the amount of tilapias exported from the Philippines declined markedly to X tons, waning by -X% on the previous year. Overall, exports showed a sharp slump. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, tilapias exports dropped rapidly to $X in 2021. In general, exports showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for tilapias exports from the Philippines, with a X% share of total exports. Moreover, tilapias exports to the United States exceeded the volume sent to the second major destination, South Korea (X kg), more than tenfold. Canada (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-X% per year) and Canada (-X% per year).

In value terms, the United States ($X) remains the key foreign market for tilapias exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-X% per year) and Canada (-X% per year).

Export Prices by Country

The average tilapias export price stood at $X per ton in 2021, rising by X% against the previous year. Overall, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tilapias export price increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Tilapias Imports

Imports into the Philippines

In 2021, supplies from abroad of tilapias was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, tilapias imports totaled $X in 2021. Overall, imports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of tilapias to the Philippines, with a X% share of total imports. Moreover, tilapias imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +X%.

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

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +X%.

Import Prices by Country

In 2021, the average tilapias import price amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price, however, continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Vietnam amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+X%).

Source: IndexBox Market Intelligence Platform

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