Price for Insects; Live, Other than Bees in the Philippines - 2023
Contents:
- Price for Insects; Live, Other than Bees in the Philippines (FOB) - 2022
- Exports of Insects; Live, Other than Bees in the Philippines
Price for Insects; Live, Other than Bees in the Philippines (FOB) - 2022
In 2022, the average export price for insects; live, other than beeses amounted to less than $0.1 per thousand units, approximately mirroring the previous year. In general, the export price, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 7%. As a result, the export price reached the peak level of less than $0.1 per thousand units. From 2020 to 2022, the average export prices failed to regain momentum.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK (less than $0.1 per thousand units) and the United States (less than $0.1 per thousand units), while the average price for exports to Singapore (less than $0.1 per thousand units) and the Netherlands (less than $0.1 per thousand units) were amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.
Exports of Insects; Live, Other than Bees in the Philippines
Insects; live, other than bees exports from the Philippines soared to 18B units in 2022, with an increase of 129% compared with the previous year. Over the period under review, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, insects; live, other than bees exports soared to $301K in 2022. Overall, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Insects; Live, Other than Bees in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 33.4 | 15.2 | 38.5 | 73.6 | 30.1% |
| United States | 3.4 | 1.9 | N/A | 49.2 | 143.7% |
| United Kingdom | 16.9 | 24.9 | 13.8 | 41.7 | 35.1% |
| Russia | 1.9 | N/A | 1.5 | 30.4 | 152.0% |
| Turkey | N/A | N/A | N/A | 28.3 | 0% |
| Netherlands | 10.7 | 2.9 | 23.2 | 24.5 | 31.8% |
| United Arab Emirates | N/A | N/A | N/A | 16.6 | 0% |
| New Zealand | N/A | N/A | N/A | 8.3 | 0% |
| Singapore | 10.6 | 4.6 | 8.0 | 4.6 | -24.3% |
| Others | 38.4 | 15.8 | 45.0 | 23.4 | -15.2% |
| Total | 115 | 65.4 | 130 | 301 | 37.8% |
Top Export Markets for Insects; Live, Other than Bees from the Philippines in 2022:
- Canada (4.7B units)
- United States (3.1B units)
- United Kingdom (2.7B units)
- Russia (1.9B units)
- Turkey (1.8B units)
- Netherlands (1.6B units)
- United Arab Emirates (1.1B units)
- New Zealand (0.5B units)
- Singapore (0.3B units)
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