Price for Crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster) in the Philippines - 2023

Contents:

1. Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in the Philippines (CIF) - 2022
2. Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in the Philippines (FOB) - 2022
3. Imports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in the Philippines
4. Exports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in the Philippines

Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in the Philippines (CIF) - 2022

The average import price for crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s stood at $1,954 per ton in 2022, surging by 34% against the previous year. Overall, the import price, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2018 an increase of 114%. The import price peaked at $5,998 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 China ($2,049 per ton), while the price for Taiwan (Chinese) ($1,256 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+14.3%), while the prices for the other major suppliers experienced a decline.

Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in the Philippines (FOB) - 2022

In 2022, the average export price for crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s amounted to $9,216 per ton, flattening at the previous year. Overall, the export price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 an increase of 10% against the previous year. Over the period under review, the average export prices reached the peak figure at $9,305 per ton in 2021, and then shrank in the following year.

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 Japan ($10,822 per ton), while the average price for exports to Bahrain ($4,000 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+31.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in the Philippines

In 2022, supplies from abroad of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s decreased by -47.6% to 17 tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. As a result, imports attained the peak of 33 tons, and then shrank significantly in the following year.

In value terms, imports of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s shrank rapidly to $34K in 2022. Over the period under review, total imports indicated a strong expansion from 2020 to 2022: its value increased at an average annual rate of +10.4% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +21.8% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 74% against the previous year. As a result, imports reached the peak of $48K, and then dropped markedly in the following year.

Top Suppliers of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) to the Philippines in 2022:

1. China (15.3 tons)
2. Taiwan (Chinese) (1.8 tons)
3. Canada (0.3 tons)

Exports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in the Philippines

In 2022, approx. 139 kg of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s were exported from the Philippines; dropping by -49.5% compared with 2021. Overall, exports recorded a sharp decline.

In value terms, exports of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s fell sharply to $1.3K in 2022. In general, exports faced a dramatic decline.

Top Export Markets for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) from the Philippines in 2022:

1. Qatar (64.0 kg)
2. Japan (45.0 kg)
3. Australia (28.0 kg)

Source: IndexBox Market Intelligence Platform