Onion Price in the Philippines - 2024
Contents:
- Onion Price in the Philippines (CIF) - 2022
- Onion Price in the Philippines (FOB) - 2022
- Onion Imports in the Philippines
- Onion Exports in the Philippines
Onion Price in the Philippines (CIF) - 2022
In 2022, the average onion import price amounted to $703 per ton, with an increase of 10% against the previous year. In general, the import price recorded resilient growth. The growth pace was the most rapid in 2019 when the average import price increased by 181% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($703 per ton), while the price for China ($703 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Onion Price in the Philippines (FOB) - 2022
The average onion export price stood at $589 per ton in 2022, with an increase of 11% against the previous year. Over the period under review, the export price recorded a moderate increase. The most prominent rate of growth was recorded in 2018 an increase of 65%. As a result, the export price attained the peak level of $1,558 per ton. From 2019 to 2022, the average export prices remained at a lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($589 per ton), while the average price for exports to Singapore amounted to $589 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.
Onion Imports in the Philippines
In 2022, supplies from abroad of onions (dry) decreased by -76.6% to 7.3K tons, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 when imports increased by 144% against the previous year. As a result, imports attained the peak of 32K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, onion imports dropped sharply to $5.1M in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 248%.
| Import of Onion in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 0.2 | 0.1 | 2.6 | 2.6 | 135.1% |
| Netherlands | 2.1 | 9.1 | 7.7 | 2.3 | 3.1% |
| China | 2.7 | 8.4 | 9.5 | 0.3 | -51.9% |
| Others | N/A | 0.1 | 0.1 | N/A | 0.0% |
| Total | 5.1 | 17.7 | 19.9 | 5.1 | 0.0% |
Top Suppliers of Onion to the Philippines in 2022:
- India (3.6K tons)
- Netherlands (3.3K tons)
- China (0.4K tons)
Onion Exports in the Philippines
In 2022, overseas shipments of onions (dry) were finally on the rise to reach 858 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt decline.
In value terms, onion exports skyrocketed to $505K in 2022. Over the period under review, exports, however, recorded a noticeable decline.
| Export of Onion in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 553 | 227 | 160 | 336 | -15.3% |
| Indonesia | N/A | N/A | N/A | 169 | 0% |
| Others | 22.0 | N/A | 7.0 | 0.4 | -73.7% |
| Total | 575 | 227 | 167 | 505 | -4.2% |
Top Export Markets for Onion from the Philippines in 2022:
- Singapore (570.2 tons)
- Indonesia (286.9 tons)
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