Price for Fish Meal; Fit for Human Consumption in the Philippines - 2022

Contents:

1. Price for Fish Meal; Fit for Human Consumption in the Philippines (CIF) - 2022
2. Price for Fish Meal; Fit for Human Consumption in the Philippines (FOB) - 2022
3. Imports of Fish Meal; Fit for Human Consumption in the Philippines
4. Exports of Fish Meal; Fit for Human Consumption in the Philippines

Price for Fish Meal; Fit for Human Consumption in the Philippines (CIF) - 2022

In 2022, the average import price for fish meal; fit for human consumptia amounted to $10,349 per ton, increasing by 19% against the previous year. Overall, the import price recorded a significant expansion. The pace of growth was the most pronounced in 2015 an increase of 1,217% against the previous year. As a result, import price attained the peak level of $26,433 per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($11,429 per ton), while the price for Norway totaled $10,134 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+41.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Fish Meal; Fit for Human Consumption in the Philippines (FOB) - 2022

In 2022, the average export price for fish meal; fit for human consumptia amounted to $4,146 per ton, growing by 197% against the previous year. Over the period under review, the export price saw resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($10,310 per ton), while the average price for exports to Australia stood at $1,177 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+58.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Meal; Fit for Human Consumption in the Philippines

In 2022, approx. 2 tons of fish meal; fit for human consumptia were imported into the Philippines; which is down by -44.7% against the year before. Overall, imports recorded a sharp reduction. The pace of growth appeared the most rapid in 2021 with an increase of 114%.

In value terms, imports of fish meal; fit for human consumptia declined sharply to $21K in 2022. In general, imports saw a sharp shrinkage. The growth pace was the most rapid in 2021 with an increase of 79%.

Top Suppliers of Fish Meal; Fit for Human Consumption to the Philippines in 2022:

1. Norway (1653.0 kg)
2. Japan (329.0 kg)

Exports of Fish Meal; Fit for Human Consumption in the Philippines

In 2022, approx. 2.2 tons of fish meal; fit for human consumptia were exported from the Philippines; growing by 700% on the previous year's figure. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 944%. As a result, the exports attained the peak of 5.8 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of fish meal; fit for human consumptia surged to $8.9K in 2022. In general, exports enjoyed a significant expansion.

Top Export Markets for Fish Meal; Fit for Human Consumption from the Philippines in 2022:

1. Australia (1.5 tons)
2. United Arab Emirates (0.7 tons)

Source: IndexBox Market Intelligence Platform