Price for Tallow; Other than Those of Heading 1503 in the Philippines - 2023
Contents:
- Price for Tallow; Other than Those of Heading 1503 in the Philippines (CIF) - 2023
- Price for Tallow; Other than Those of Heading 1503 in the Philippines (FOB) - 2022
- Imports of Tallow; Other than Those of Heading 1503 in the Philippines
- Exports of Tallow; Other than Those of Heading 1503 in the Philippines
Price for Tallow; Other than Those of Heading 1503 in the Philippines (CIF) - 2023
The average import price for tallow; other than those of heading 1503s stood at $1,936 per ton in July 2023, growing by 23% against the previous month. In general, the import price saw a slight increase. The pace of growth appeared the most rapid in December 2022 an increase of 74% against the previous month. Over the period under review, average import prices reached the maximum at $4,206 per ton in March 2023; however, from April 2023 to July 2023, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In July 2023, the country with the highest price was Australia ($2,560 per ton), while the price for New Zealand amounted to $1,821 per ton.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Belgium (+0.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tallow; Other than Those of Heading 1503 in the Philippines (FOB) - 2022
The average export price for tallow; other than those of heading 1503s stood at $2,381 per ton in 2022, therefore, remained relatively stable against the previous year. Over the last five-year period, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 11%. As a result, the export price reached the peak level of $2,397 per ton, leveling off in the following year.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($2,773 per ton), while the average price for exports to Thailand amounted to $2,303 per ton.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-11.2%).
Imports of Tallow; Other than Those of Heading 1503 in the Philippines
In 2022, purchases abroad of tallow; other than those of heading 1503s was finally on the rise to reach 1.5K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a drastic downturn.
In value terms, imports of tallow; other than those of heading 1503s surged to $3.2M in 2022. In general, imports showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Tallow; Other than Those of Heading 1503 in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 2,088 | 277 | 514 | 1,561 | -9.2% |
| Australia | 155 | 456 | 44.9 | 1,289 | 102.6% |
| Belgium | N/A | 0.9 | N/A | 230 | 1498.6% |
| Denmark | N/A | N/A | 37.5 | 41.3 | 10.1% |
| United Kingdom | N/A | N/A | 13.3 | 40.0 | 200.8% |
| Netherlands | 51.0 | 159 | 279 | N/A | 133.9% |
| Others | 0.4 | 0.1 | 0.6 | 6.5 | 153.3% |
| Total | 2,295 | 893 | 889 | 3,168 | 11.3% |
Top Suppliers of Tallow; Other than Those of Heading 1503 to the Philippines in 2022:
- New Zealand (872.7 tons)
- Australia (534.3 tons)
- Belgium (56.2 tons)
- United Kingdom (46.5 tons)
- Denmark (27.0 tons)
Exports of Tallow; Other than Those of Heading 1503 in the Philippines
Exports of tallow; other than those of heading 1503s from the Philippines skyrocketed to 7.2 tons in 2022, with an increase of 38% against the previous year's figure. In general, exports, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 270%. As a result, the exports attained the peak of 30 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of tallow; other than those of heading 1503s soared to $17K in 2022. Over the period under review, exports, however, showed a slight setback. The growth pace was the most rapid in 2020 with an increase of 271% against the previous year. As a result, the exports attained the peak of $66K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Tallow; Other than Those of Heading 1503 in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 17.7 | 65.5 | 12.5 | 13.8 | -8.0% |
| Taiwan (Chinese) | N/A | N/A | N/A | 3.3 | 0% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 17.7 | 65.5 | 12.5 | 17.1 | -1.1% |
Top Export Markets for Tallow; Other than Those of Heading 1503 from the Philippines in 2022:
- Thailand (6.0 tons)
- Taiwan (Chinese) (1.2 tons)
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