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Philippines - Vegetable Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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Philippines: Vegetable Oils Market Overview 2021

Vegetable Oils Market Size in the Philippines

In 2019, the Philippine vegetable oils market decreased by -X% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +X% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2011 when the market value increased by X% year-to-year. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2019, consumption remained at a lower figure.

Vegetable Oils Production in the Philippines

In value terms, vegetable oils production dropped sharply to $X in 2019 estimated in export prices. Over the period under review, the total production indicated modest growth from 2007 to 2019: its value decreased at an average annual rate of -X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the production volume increased by X% year-to-year. Over the period under review, production reached the peak level at $X in 2011; however, from 2012 to 2019, production stood at a somewhat lower figure.

Vegetable Oils Exports

Exports from the Philippines

In 2019, overseas shipments of vegetable fats and oils increased by X% to X tonnes, rising for the fourth consecutive year after three years of decline. In general, exports enjoyed modest growth. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2010; however, from 2011 to 2019, exports stood at a somewhat lower figure.

In value terms, vegetable oils exports totaled $X in 2019. Over the period under review, total exports indicated prominent growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2014 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, exports reached the peak figure at $X in 2010; however, from 2011 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Canada (X tonnes), Malaysia (X tonnes) and Taiwan (Chinese) (X tonnes) were the main destinations of vegetable oils exports from the Philippines, together comprising X% of total exports.

From 2007 to 2019, the biggest increases were in Taiwan (Chinese) (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Australia ($X) and Taiwan (Chinese) ($X) appeared to be the largest markets for vegetable oils exported from the Philippines worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Taiwan (Chinese) (+X% per year) saw the highest rates of growth with regard to the value of exports, 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 vegetable oils export price amounted to $X per tonne, surging by X% against the previous year. In general, export price indicated a remarkable increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, vegetable oils export price decreased by -X% against 2015 indices. The pace of growth was the most pronounced in 2011 an increase of X% y-o-y. The export price peaked at $X per tonne in 2015; however, from 2016 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was South Korea ($X per tonne), while the average price for exports to New Zealand ($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 South Korea, while the prices for the other major destinations experienced mixed trend patterns.

Vegetable Oils Imports

Imports into the Philippines

In 2019, purchases abroad of vegetable fats and oils was finally on the rise to reach X tonnes for the first time since 2016, thus ending a two-year declining trend. Over the period under review, imports recorded a strong increase. The growth pace was the most rapid in 2016 when imports increased by X% y-o-y. Over the period under review, imports reached the maximum in 2019 and are expected to retain growth in years to come.

In value terms, vegetable oils imports rose remarkably to $X in 2019. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tonnes), Indonesia (X tonnes) and Singapore (X tonnes) were the main suppliers of vegetable oils imports to the Philippines, together comprising X% of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable oils suppliers to the Philippines were Malaysia ($X), Indonesia ($X) and Singapore ($X), with a combined X% share of total imports.

Indonesia recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average vegetable oils import price amounted to $X per tonne, declining by -X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2011 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per tonne in 2017; however, from 2018 to 2019, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2019, the country with the highest price was Malaysia ($X per tonne), while the price for Singapore ($X per tonne) was 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 mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vegetable fats and oils in the world?
+
The countries with the highest volumes of vegetable oils consumption in 2019 were China (1.7M tonnes), the U.S. (837K tonnes) and India (633K tonnes), with a combined 30% share of global consumption. These countries were followed by Japan, Russia, the Netherlands, Brazil, Indonesia, Pakistan, Bangladesh, Mexico, France and Nigeria, which together accounted for a further 26%.
What are the largest producers of vegetable fats and oils in the world?
+
The country with the largest volume of vegetable oils production was China (1.5M tonnes), accounting for 16% of total volume. Moreover, vegetable oils production in China exceeded the figures recorded by the second-largest producer, the U.S. (673K tonnes), twofold. India (664K tonnes) ranked third in terms of total production with a 7.1% share.
What are the leading suppliers of vegetable fats and oils to the Philippines?
+
In value terms, the largest vegetable oils suppliers to the Philippines were Malaysia ($27M), Indonesia ($14M) and Singapore ($1.4M), together comprising 98% of total imports.
What are the leading importers of vegetable fats and oils from the Philippines?
+
In value terms, the largest markets for vegetable oils exported from the Philippines were South Korea ($878K), Australia ($606K) and Taiwan (Chinese) ($601K), with a combined 60% share of total exports.
What is the average export price for vegetable fats and oils in the Philippines?
+
In 2019, the average vegetable oils export price amounted to $2,018 per tonne, surging by 6.3% against the previous year.
What is the average import price for vegetable fats and oils in the Philippines?
+
The average vegetable oils import price stood at $862 per tonne in 2019, falling by -9.5% against the previous year.

Product coverage:
• Prodcom 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)

This report provides an in-depth analysis of the vegetable oils 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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