Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines - 2023
Contents:
- Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines (FOB) - 2023
- Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines (CIF) - 2023
- Exports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines
- Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines
Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines (FOB) - 2023
The average export price for fats and oils and their fractions; of fish, (excluding liver-oils)s stood at $2,755 per ton in July 2023, with an increase of 59% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $3,649 per ton in March 2023; however, from April 2023 to July 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Chile ($3,572 per ton), while the average price for exports to Mexico ($1,490 per ton) was amongst the lowest.
From December 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines (CIF) - 2023
In July 2023, the average import price for fats and oils and their fractions; of fish, (excluding liver-oils)s amounted to $17,686 per ton, rising by 315% against the previous month. In general, the import price recorded significant growth. The pace of growth was the most pronounced in April 2023 when the average import price increased by 336% m-o-m. Over the period under review, average import prices attained the peak figure in July 2023.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Switzerland ($24,049 per ton), while the price for Norway ($3,697 per ton) was amongst the lowest.
From December 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Chile (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines
In 2022, overseas shipments of fats and oils and their fractions; of fish, (excluding liver-oils)s decreased by -9.9% to 1.8K tons, falling for the second year in a row after two years of growth. Overall, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 315%. As a result, the exports attained the peak of 3.7K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of fats and oils and their fractions; of fish, (excluding liver-oils)s contracted slightly to $5.6M in 2022. Over the period under review, exports, however, recorded significant growth. The growth pace was the most rapid in 2020 when exports increased by 290% against the previous year. As a result, the exports reached the peak of $6.7M. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Chile | N/A | 1.4 | N/A | 4.3 | 75.3% |
| Ecuador | N/A | N/A | N/A | 0.8 | 0% |
| Spain | N/A | N/A | N/A | 0.3 | 0% |
| Peru | 1.1 | 3.7 | 4.9 | 0.1 | -55.0% |
| South Korea | 0.2 | 0.6 | 0.2 | 0.1 | -20.6% |
| Vietnam | N/A | N/A | N/A | N/A | 0% |
| Malaysia | N/A | 0.2 | 0.1 | N/A | -50.0% |
| Bangladesh | 0.4 | 0.7 | 0.5 | N/A | 11.8% |
| Others | 0.1 | 0.1 | N/A | N/A | 0.0% |
| Total | 1.7 | 6.7 | 5.6 | 5.6 | 48.8% |
Top Export Markets for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) from the Philippines in 2022:
- Chile (1331.6 tons)
- Ecuador (228.1 tons)
- Spain (114.7 tons)
- South Korea (76.9 tons)
- Vietnam (36.5 tons)
- Peru (22.9 tons)
Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines
In 2022, approx. 443 tons of fats and oils and their fractions; of fish, (excluding liver-oils)s were imported into the Philippines; waning by -4.7% compared with the year before. Over the period under review, imports saw a deep setback. The pace of growth was the most pronounced in 2021 when imports increased by 30%.
In value terms, imports of fats and oils and their fractions; of fish, (excluding liver-oils)s surged to $2.3M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +9.6% 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 +65.4% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 38%. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in years to come.
| Import of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 941 | 900 | 1,000 | 1,206 | 8.6% |
| Chile | 219 | 243 | 526 | 359 | 17.9% |
| India | N/A | N/A | N/A | 334 | 0% |
| Japan | 203 | 120 | 241 | 263 | 9.0% |
| Vietnam | 253 | 64.8 | N/A | N/A | -74.4% |
| Papua New Guinea | 57.7 | N/A | N/A | N/A | 0% |
| Others | 78.3 | 64.0 | 156 | 141 | 21.7% |
| Total | 1,752 | 1,393 | 1,923 | 2,304 | 9.6% |
Top Suppliers of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) to the Philippines in 2022:
- Chile (196.4 tons)
- India (109.3 tons)
- Japan (67.1 tons)
- Switzerland (60.0 tons)
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This report provides an in-depth analysis of the market for fish fat and oil in the Philippines.
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This report provides an in-depth analysis of the global market for fish fat and oil.
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This report provides an in-depth analysis of the market for fish fat and oil in the Philippines.
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This report provides an in-depth analysis of the global market for fish fat and oil.
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Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
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Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
