Ester Gums Price in the Philippines - 2023
Contents:
Ester Gums Price in the Philippines (CIF) - 2022
In 2022, the average ester gums import price amounted to $3,061 per ton, with an increase of 24% against the previous year. Over the period under review, the import price recorded a perceptible increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 161%. As a result, import price reached the peak level of $4,340 per ton. From 2020 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($3,276 per ton), while the price for China ($439 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Ester Gums Imports in the Philippines
In 2022, approx. 128 tons of ester gumses were imported into the Philippines; picking up by 54% against the previous year. Overall, imports enjoyed significant growth. The growth pace was the most rapid in 2021 with an increase of 131% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.
In value terms, ester gums imports soared to $392K in 2022. In general, imports posted a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Ester Gums in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 38.3 | 16.5 | 30.2 | 342 | 107.5% |
| Japan | 0.6 | 0.4 | 0.9 | 47.8 | 330.3% |
| China | 0.7 | 0.2 | 0.1 | 0.1 | -47.7% |
| Indonesia | 21.5 | 10.8 | 12.6 | N/A | -23.4% |
| United Arab Emirates | N/A | N/A | 5.5 | N/A | 0% |
| Mexico | 197 | 114 | 153 | N/A | -11.9% |
| Taiwan (Chinese) | 4.9 | 4.4 | 0.4 | N/A | -71.4% |
| Others | 4.9 | 2.9 | 2.4 | 2.9 | -16.0% |
| Total | 267 | 149 | 205 | 392 | 13.7% |
Top Suppliers of Ester Gums to the Philippines in 2022:
- United States (104.3 tons)
- Japan (23.4 tons)
- China (0.3 tons)
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