Live Fish Price in the Philippines - 2022

Contents:

1. Live Fish Price in the Philippines (FOB) - 2022
2. Live Fish Price in the Philippines (CIF) - 2022
3. Live Fish Exports in the Philippines
4. Live Fish Imports in the Philippines

Live Fish Price in the Philippines (FOB) - 2022

In 2022, the average live fish export price amounted to $6,146 per ton, with an increase of 2.3% against the previous year. In general, the export price showed a strong expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 32%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($23,495 per ton), while the average price for exports to Taiwan (Chinese) ($4,748 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+27.7%), while the prices for the other major destinations experienced more modest paces of growth.

Live Fish Price in the Philippines (CIF) - 2022

In 2022, the average live fish import price amounted to $13,794 per ton, approximately mirroring the previous year. In general, the import price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 78% against the previous year. Over the period under review, average import prices reached the peak figure at $13,841 per ton in 2021, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($14,043 per ton), while the price for China totaled $13,627 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+32.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Live Fish Exports in the Philippines

Live fish exports from the Philippines dropped significantly to 14K tons in 2022, which is down by -15.7% against 2021 figures. Over the period under review, total exports indicated a slight expansion from 2019 to 2022: its volume increased at an average annual rate of +1.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 93%. As a result, the exports attained the peak of 17K tons, and then dropped markedly in the following year.

In value terms, live fish exports declined to $88M in 2022. In general, exports, however, showed significant growth. The growth pace was the most rapid in 2021 when exports increased by 147% against the previous year. As a result, the exports attained the peak of $102M, and then reduced in the following year.

Top Export Markets for Live Fish from the Philippines in 2022:

1. China (12.6K tons)
2. Taiwan (Chinese) (0.6K tons)
3. Hong Kong SAR (0.6K tons)
4. United States (0.3K tons)

Live Fish Imports in the Philippines

For the third year in a row, the Philippines recorded decline in overseas purchases of live fish, which decreased by -47.1% to 1.5 tons in 2022. In general, imports continue to indicate a sharp downturn. The smallest decline of -43.7% was in 2021.

In value terms, live fish imports reduced rapidly to $21K in 2022. Over the period under review, imports faced a precipitous setback. The smallest decline of -27.4% was in 2020.

Top Suppliers of Live Fish to the Philippines in 2022:

1. China (893.0 kg)
2. Japan (600.0 kg)

Source: IndexBox Market Intelligence Platform