Price for Fish; Edible Offal, Shark Fins in the Philippines - 2022

Contents:

1. Price for Fish; Edible Offal, Shark Fins in the Philippines (FOB) - 2022
2. Price for Fish; Edible Offal, Shark Fins in the Philippines (CIF) - 2022
3. Exports of Fish; Edible Offal, Shark Fins in the Philippines
4. Imports of Fish; Edible Offal, Shark Fins in the Philippines

Price for Fish; Edible Offal, Shark Fins in the Philippines (FOB) - 2022

In 2022, the average export price for fish; edible offal, shark finses amounted to $53,301 per ton, surging by 4.7% against the previous year. Overall, the export price continues to indicate moderate growth. The growth pace was the most rapid in 2018 an increase of 53% against the previous year. Over the period under review, the average export prices hit record highs at $83,582 per ton in 2020; however, from 2021 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 Japan.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to +19.6% per year.

Price for Fish; Edible Offal, Shark Fins in the Philippines (CIF) - 2022

The average import price for fish; edible offal, shark finses stood at $40,573 per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price posted significant growth. The pace of growth appeared the most rapid in 2019 an increase of 108% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Singapore ($89,251 per ton), while the price for Australia totaled $22,343 per ton.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+54.8%).

Exports of Fish; Edible Offal, Shark Fins in the Philippines

In 2022, after three years of growth, there was significant decline in shipments abroad of fish; edible offal, shark finses, when their volume decreased by -94.3% to 1.9 tons. In general, exports continue to indicate a dramatic contraction. The pace of growth appeared the most rapid in 2020 with an increase of 95%.

In value terms, fish; edible offal, shark fins exports dropped notably to $104K in 2022. Over the period under review, exports saw a precipitous contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 107% against the previous year. As a result, the exports attained the peak of $1.9M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Top Export Markets for Fish; Edible Offal, Shark Fins from the Philippines in 2022:

1. Japan (1.9 tons)

Imports of Fish; Edible Offal, Shark Fins in the Philippines

For the third consecutive year, the Philippines recorded decline in purchases abroad of fish; edible offal, shark finses, which decreased by 0% to 2.1 tons in 2022. Overall, imports saw a sharp decrease. The smallest decline of -35.7% was in 2020.

In value terms, fish; edible offal, shark fins imports stood at $86K in 2022. In general, imports recorded a precipitous decrease. The pace of growth was the most pronounced in 2020 when imports increased by 1.8%. As a result, imports reached the peak of $172K. From 2021 to 2022, the growth of imports remained at a lower figure.

Top Suppliers of Fish; Edible Offal, Shark Fins to the Philippines in 2022:

1. Australia (1.5 tons)
2. Singapore (0.6 tons)

Source: IndexBox Market Intelligence Platform