Price for Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in the Philippines - 2023

Contents:

1. Price for Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in the Philippines (FOB) - 2022
2. Price for Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in the Philippines (CIF) - 2022
3. Exports of Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in the Philippines
4. Imports of Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in the Philippines

Price for Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in the Philippines (FOB) - 2022

The average export price for artificial staple fibres, not carded, combed or otherwise processed for spinning stood at $56,638 per ton in 2022, growing by 22% against the previous year. Over the period under review, the export price posted a significant increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 175%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($56,802 per ton), while the average price for exports to the UK totaled $51,017 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+26.1%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in the Philippines (CIF) - 2022

The average import price for artificial staple fibres, not carded, combed or otherwise processed for spinning stood at $3,139 per ton in 2022, surging by 35% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for artificial staple fibres, not carded, combed or otherwise processed for spinning increased by +63.8% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 66% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($3,393 per ton), while the price for China ($1,590 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in the Philippines

For the third consecutive year, the Philippines recorded decline in shipments abroad of artificial staple fibres, not carded, combed or otherwise processed for spinning, which decreased by -73% to 4.3 tons in 2022. Overall, exports continue to indicate a dramatic decline. The smallest decline of -64% was in 2020.

In value terms, exports of artificial staple fibres, not carded, combed or otherwise processed for spinning fell notably to $241K in 2022. In general, exports recorded a sharp slump. The smallest decline of -1% was in 2020.

Top Export Markets for Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning from the Philippines in 2022:

1. United States (4.1 tons)
2. United Kingdom (0.1 tons)

Imports of Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning in the Philippines

Imports of artificial staple fibres, not carded, combed or otherwise processed for spinning into the Philippines declined markedly to 65 tons in 2022, with a decrease of -76.5% against the previous year's figure. Over the period under review, imports faced a sharp downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 26%.

In value terms, imports of artificial staple fibres, not carded, combed or otherwise processed for spinning declined sharply to $205K in 2022. In general, imports faced a significant curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 53% against the previous year.

Top Suppliers of Artificial Staple Fibres, Not Carded, Combed or Otherwise Processed for Spinning to the Philippines in 2022:

1. Canada (30.5 tons)
2. Indonesia (17.4 tons)
3. India (15.2 tons)
4. China (2.0 tons)

Source: IndexBox Market Intelligence Platform