Price for Cereal Groats and Meal; of Maize (Corn) in the Philippines - 2023
Contents:
- Price for Cereal Groats and Meal; of Maize (Corn) in the Philippines (CIF) - 2022
- Price for Cereal Groats and Meal; of Maize (Corn) in the Philippines (FOB) - 2022
- Imports of Cereal Groats and Meal; of Maize (Corn) in the Philippines
- Exports of Cereal Groats and Meal; of Maize (Corn) in the Philippines
Price for Cereal Groats and Meal; of Maize (Corn) in the Philippines (CIF) - 2022
The average import price for cereal groats and meal; of maize (corn)s stood at $571 per ton in 2022, surging by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2021 when the average import price increased by 19% 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 immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from India ($571 per ton) and the United States ($571 per ton), while the price for Thailand ($571 per ton) and Turkey ($571 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereal Groats and Meal; of Maize (Corn) in the Philippines (FOB) - 2022
The average export price for cereal groats and meal; of maize (corn)s stood at $470 per ton in 2022, with a decrease of -9% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 9.7% against the previous year. The export price peaked at $535 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.
From 2012 to 2022, the rate of growth in terms of prices for Myanmar amounted to +6.3% per year.
Imports of Cereal Groats and Meal; of Maize (Corn) in the Philippines
In 2022, supplies from abroad of cereal groats and meal; of maize (corn)s was finally on the rise to reach 385 tons after two years of decline. Overall, imports, however, recorded a sharp setback.
In value terms, imports of cereal groats and meal; of maize (corn)s surged to $220K in 2022. In general, imports, however, continue to indicate a dramatic decrease.
| Import of Cereal Groats and Meal; of Maize (Corn) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 47.9 | 3.5 | 3.6 | 143 | 44.0% |
| Thailand | 3.9 | 2.7 | 1.3 | 53.4 | 139.2% |
| India | 0.8 | 0.1 | 0.4 | 18.4 | 184.4% |
| Belgium | 27.8 | 1.5 | 1.1 | N/A | -80.1% |
| France | 726 | 21.8 | 17.6 | N/A | -84.4% |
| Poland | 448 | 28.8 | 25.2 | N/A | -76.3% |
| Netherlands | 26.5 | 1.4 | 1.0 | N/A | -80.6% |
| Others | 312 | 1.0 | 0.6 | 4.7 | -75.3% |
| Total | 1,593 | 60.9 | 50.6 | 220 | -48.3% |
Top Suppliers of Cereal Groats and Meal; of Maize (Corn) to the Philippines in 2022:
- Turkey (251.2 tons)
- Thailand (93.6 tons)
- India (32.2 tons)
Exports of Cereal Groats and Meal; of Maize (Corn) in the Philippines
In 2022, overseas shipments of cereal groats and meal; of maize (corn)s decreased by -98.8% to 1.1 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports faced a dramatic shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 3.6%.
In value terms, exports of cereal groats and meal; of maize (corn)s fell significantly to $525 in 2022. In general, exports showed a precipitous contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 1.2% against the previous year. As a result, the exports attained the peak of $46K, and then declined markedly in the following year.
| Export of Cereal Groats and Meal; of Maize (Corn) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 1.0 | 0.1 | 0.1 | 0.5 | -20.6% |
| Hong Kong SAR | 18.0 | 14.9 | 12.0 | N/A | -18.4% |
| Vietnam | 23.7 | 28.0 | 32.0 | N/A | 16.2% |
| Myanmar | 1.7 | 1.8 | 2.0 | N/A | 8.5% |
| Others | 0.9 | 0.9 | 0.3 | N/A | -42.3% |
| Total | 45.3 | 45.8 | 46.4 | 0.5 | -77.7% |
Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from the Philippines in 2022:
- United Arab Emirates (1.1 tons)
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