Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines - 2023
Contents:
- Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines (CIF) - 2022
- Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines (FOB) - 2022
- Imports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines
- Exports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines
Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines (CIF) - 2022
The average import price for cheese, other than blue-veined, grated, powdered or processed stood at $6,430 per ton in 2022, with an increase of 7.4% against the previous year. Over the period under review, the import price showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 47%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($6,430 per ton) and the United States ($6,430 per ton), while the price for India ($6,430 per ton) and Germany ($6,430 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines (FOB) - 2022
The average export price for cheese, other than blue-veined, grated, powdered or processed stood at $6,529 per ton in 2022, growing by 9.5% against the previous year. In general, the export price showed a significant expansion. The pace of growth was the most pronounced in 2019 an increase of 169% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Brunei Darussalam ($6,529 per ton) and Vietnam ($6,529 per ton), while the average price for exports to Singapore ($6,529 per ton) and the United Arab Emirates ($6,529 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+43.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines
In 2022, imports of cheese, other than blue-veined, grated, powdered or processed into the Philippines skyrocketed to 13K tons, growing by 20% against 2021. The total import volume increased at an average annual rate of +7.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, imports of cheese, other than blue-veined, grated, powdered or processed surged to $81M in 2022. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +15.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 33% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 27.9 | 25.9 | 32.2 | 41.8 | 14.4% |
| Australia | 5.7 | 6.3 | 14.0 | 13.9 | 34.6% |
| United States | 5.0 | 5.5 | 5.8 | 12.8 | 36.8% |
| Denmark | 2.7 | 2.6 | 2.0 | 3.1 | 4.7% |
| Indonesia | 0.2 | 0.5 | 0.9 | 1.7 | 104.1% |
| Germany | 0.4 | 0.8 | 1.0 | 1.2 | 44.2% |
| Ireland | 4.8 | 2.8 | 0.2 | N/A | -79.6% |
| Others | 5.6 | 2.7 | 6.5 | 6.2 | 3.5% |
| Total | 52.3 | 47.1 | 62.5 | 80.7 | 15.6% |
Top Suppliers of Cheese, Other than Blue-Veined, Grated, Powdered or Processed to the Philippines in 2022:
- New Zealand (6.5K tons)
- Australia (2.2K tons)
- United States (2.0K tons)
- Denmark (0.5K tons)
- Indonesia (0.3K tons)
- Germany (0.2K tons)
Exports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines
For the fourth year in a row, the Philippines recorded growth in overseas shipments of cheese, other than blue-veined, grated, powdered or processed, which increased by 19% to 198 tons in 2022. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2021 when exports increased by 273%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see steady growth in years to come.
In value terms, exports of cheese, other than blue-veined, grated, powdered or processed soared to $1.3M in 2022. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 271%. The exports peaked in 2022 and are likely to see steady growth in the near future.
| Export of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 6.9 | 13.7 | 371 | 277 | 242.4% |
| United States | N/A | N/A | 93.9 | 232 | 147.1% |
| United Arab Emirates | 154 | 184 | 235 | 196 | 8.4% |
| South Africa | N/A | N/A | N/A | 142 | 0% |
| Saudi Arabia | N/A | 1.9 | 104 | 109 | 657.4% |
| Brunei Darussalam | N/A | 1.6 | 34.7 | 104 | 706.2% |
| Hong Kong SAR | N/A | 17.6 | 68.3 | 72.6 | 103.1% |
| Singapore | N/A | 0.8 | 24.5 | 56.5 | 740.4% |
| Vietnam | 50.9 | N/A | N/A | 56.0 | 3.2% |
| Others | 13.4 | 48.8 | 63.8 | 48.6 | 53.6% |
| Total | 225 | 268 | 995 | 1,293 | 79.1% |
Top Export Markets for Cheese, Other than Blue-Veined, Grated, Powdered or Processed from the Philippines in 2022:
- Canada (42.5 tons)
- United States (35.5 tons)
- United Arab Emirates (30.0 tons)
- South Africa (21.7 tons)
- Saudi Arabia (16.6 tons)
- Brunei Darussalam (15.9 tons)
- Hong Kong SAR (11.1 tons)
- Singapore (8.7 tons)
- Vietnam (8.6 tons)
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