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Philippines - Potato - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPotato Price in the Philippines - 2023
Contents:
- Potato Price in the Philippines (CIF) - 2023
- Potato Price in the Philippines (FOB) - 2022
- Potato Imports in the Philippines
- Potato Exports in the Philippines
Potato Price in the Philippines (CIF) - 2023
The average potato import price stood at $697 per ton in June 2023, growing by 16% against the previous month. Over the last eleven-month period, it increased at an average monthly rate of +1.9%. Over the period under review, average import prices reached the peak figure at $726 per ton in October 2022; however, from November 2022 to June 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In June 2023, the country with the highest price was the United States ($765 per ton), while the price for Australia totaled $696 per ton.
From July 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Australia (+2.0%), while the prices for the other major suppliers experienced a decline.
Potato Price in the Philippines (FOB) - 2022
In 2022, the average potato export price amounted to $370 per ton, waning by -3.1% against the previous year. Overall, the export price showed a noticeable setback. The growth pace was the most rapid in 2013 an increase of 37%. The export price peaked at $890 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($390 per ton), while the average price for exports to the United Arab Emirates totaled $238 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (-1.1%), while the prices for the other major destinations experienced a decline.
Potato Imports in the Philippines
In 2022, the amount of potatoes imported into the Philippines expanded rapidly to 29K tons, growing by 8.2% on the previous year. The total import volume increased at an average annual rate of +6.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 16%. Imports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, potato imports skyrocketed to $16M in 2022. The total import value increased at an average annual rate of +12.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Import of Potato in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 6.1 | 6.6 | 5.6 | 10.4 | 19.5% |
Australia | 2.5 | 2.7 | 4.7 | 4.4 | 20.7% |
Germany | 2.3 | 2.4 | 2.9 | 1.4 | -15.3% |
Others | 0.6 | 1.2 | 0.4 | 0.2 | -30.7% |
Total | 11.4 | 12.9 | 13.6 | 16.3 | 12.7% |
Top Suppliers of Potato to the Philippines in 2022:
- United States (17.9K tons)
- Australia (7.9K tons)
- Germany (2.9K tons)
Potato Exports in the Philippines
In 2022, exports of potatoes from the Philippines contracted dramatically to 2.5 tons, waning by -27.3% on 2021. Over the period under review, exports recorded a deep setback. The pace of growth appeared the most rapid in 2021 when exports increased by 141%. As a result, the exports reached the peak of 3.5 tons, and then declined significantly in the following year.
In value terms, potato exports declined dramatically to $937 in 2022. Overall, exports saw a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of 121%. As a result, the exports reached the peak of $1.3K, and then shrank sharply in the following year.
Export of Potato in the Philippines (USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Bahrain | 1,105 | N/A | 1,329 | 855 | -8.2% |
United Arab Emirates | 200 | 424 | N/A | 82.0 | -25.7% |
Malaysia | N/A | 176 | N/A | N/A | 0% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 1,305 | 600 | 1,329 | 937 | -10.5% |
Top Export Markets for Potato from the Philippines in 2022:
- Bahrain (2.2 tons)
- United Arab Emirates (0.3 tons)
This report provides an in-depth analysis of the potato 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 2030.
Product coverage:
- FCL 116 - Potatoes
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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