Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the Philippines - 2023

Contents:

1. Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the Philippines (FOB) - 2022
2. Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the Philippines (CIF) - 2023
3. Exports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the Philippines
4. Imports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the Philippines

Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the Philippines (FOB) - 2022

In 2022, the average export price for flour and meal; of sago, roots or tubers of heading no. 0714 amounted to $1,998 per ton, dropping by -31.3% against the previous year. In general, the export price, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 an increase of 97%. The export price peaked at $2,909 per ton in 2021, and then reduced remarkably in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($1,976 per ton), while the average price for exports to Australia ($1,976 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 States (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Price for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the Philippines (CIF) - 2023

The average import price for flour and meal; of sago, roots or tubers of heading no. 0714 stood at $2,131 per ton in August 2023, approximately equating the previous month. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level of $2,131 per ton; afterwards, it flattened through to August 2023.

As there is only one major supplying country, the average price level is determined by prices for China.

From June 2023 to August 2023, the rate of growth in terms of prices for China amounted to 0.0% per month.

Exports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the Philippines

In 2022, the amount of flour and meal; of sago, roots or tubers of heading no. 0714 exported from the Philippines surged to 279 tons, increasing by 46% against the previous year's figure. In general, exports, however, saw a deep setback. The growth pace was the most rapid in 2021 when exports increased by 312%.

In value terms, exports of flour and meal; of sago, roots or tubers of heading no. 0714 reached $558K in 2022. Over the period under review, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 516% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Top Export Markets for Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 from the Philippines in 2022:

1. United States (227.6 tons)
2. Canada (28.6 tons)
3. Australia (12.9 tons)

Imports of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 in the Philippines

In 2022, imports of flour and meal; of sago, roots or tubers of heading no. 0714 into the Philippines surged to 64 tons, increasing by 106% on 2021. In general, imports showed a resilient increase. The pace of growth appeared the most rapid in 2020 with an increase of 864% against the previous year. As a result, imports reached the peak of 364 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of flour and meal; of sago, roots or tubers of heading no. 0714 surged to $175K in 2022. Overall, imports saw buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 598% against the previous year. As a result, imports reached the peak of $770K. From 2021 to 2022, the growth of imports of failed to regain momentum.

Top Suppliers of Flour and Meal; of Sago, Roots or Tubers of Heading No. 0714 to the Philippines in 2022:

1. United States (43.0 tons)
2. United Kingdom (18.5 tons)
3. Taiwan (Chinese) (1.6 tons)

Source: IndexBox Market Intelligence Platform