Price for Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines - 2023
Contents:
- Price for Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines (CIF) - 2023
- Price for Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines (FOB) - 2023
- Imports of Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines
- Exports of Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines
Price for Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines (CIF) - 2023
The average import price for buckwheat, millet and canary seed; other cerealses stood at $706 per ton in November 2023, rising by 14% against the previous month. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 42% month-to-month. As a result, import price attained the peak level of $980 per ton. From March 2023 to November 2023, the average import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In November 2023, the highest price was recorded for prices from Canada ($856 per ton) and the United States ($740 per ton), while the price for Ukraine ($580 per ton) and Russia ($580 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the United States (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines (FOB) - 2023
In October 2023, the average export price for buckwheat, millet and canary seed; other cerealses amounted to $484 per ton, flattening at the previous month. Overall, the export price continues to indicate a sharp setback. As a result, the export price attained the peak level of $1,685 per ton. From September 2023 to October 2023, the the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the United States.
From August 2023 to October 2023, the rate of growth in terms of prices for the United States amounted to 0.0% per month.
Imports of Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines
In 2022, the amount of buckwheat, millet and canary seed; other cerealses imported into the Philippines skyrocketed to 14K tons, jumping by 68% against the year before. In general, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of buckwheat, millet and canary seed; other cerealses skyrocketed to $10M in 2022. Overall, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.4 | 2.7 | 0.7 | 3.3 | 11.2% |
| Ukraine | 0.1 | 0.5 | 2.4 | 2.8 | 203.7% |
| Canada | 0.7 | 1.1 | 1.5 | 2.4 | 50.8% |
| Russia | N/A | 0.1 | 0.1 | 0.7 | 164.6% |
| China | 0.2 | 0.1 | 0.1 | 0.4 | 26.0% |
| Germany | N/A | N/A | N/A | 0.1 | 0% |
| Others | 0.2 | 0.2 | 0.5 | 0.2 | 0.0% |
| Total | 3.5 | 4.6 | 5.2 | 10.0 | 41.9% |
Top Suppliers of Buckwheat, Millet and Canary Seed; Other Cereals to the Philippines in 2022:
- United States (5.0K tons)
- Ukraine (4.4K tons)
- Canada (2.4K tons)
- Russia (1.2K tons)
- China (0.6K tons)
- Germany (0.2K tons)
Exports of Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines
In 2022, overseas shipments of buckwheat, millet and canary seed; other cerealses decreased by -80% to 7.8 tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2020 with an increase of 203% against the previous year. As a result, the exports reached the peak of 70 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of buckwheat, millet and canary seed; other cerealses contracted significantly to $13K in 2022. In general, exports recorded a dramatic decrease. The pace of growth appeared the most rapid in 2020 with an increase of 163%. As a result, the exports reached the peak of $253K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Buckwheat, Millet and Canary Seed; Other Cereals in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | N/A | N/A | N/A | 12.6 | 0% |
| Australia | N/A | N/A | N/A | 0.8 | 0% |
| Japan | 48.3 | 253 | 96.1 | N/A | 41.1% |
| Maldives | 32.5 | N/A | 0.2 | N/A | -92.2% |
| Malaysia | 12.4 | N/A | N/A | N/A | 0% |
| Denmark | N/A | N/A | 15.8 | N/A | 0% |
| Others | 3.2 | N/A | 21.1 | N/A | 156.8% |
| Total | 96.3 | 253 | 133 | 13.4 | -48.2% |
Top Export Markets for Buckwheat, Millet and Canary Seed; Other Cereals from the Philippines in 2022:
- United States (7.3 tons)
- Australia (0.4 tons)
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