Price for Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines - 2023
Contents:
- Price for Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines (FOB) - 2023
- Price for Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines (CIF) - 2022
- Exports of Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines
- Imports of Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines
Price for Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines (FOB) - 2023
In July 2023, the average export price for mollusc preparations; abalone, prepared or preserveds amounted to $7,361 per ton, which is down by -19.1% against the previous month. Over the period under review, the export price faced a deep reduction. The pace of growth appeared the most rapid in March 2023 when the average export price increased by 54% against the previous month. Over the period under review, the average export prices reached the maximum at $16,474 per ton in May 2023; however, from June 2023 to July 2023, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for South Korea.
From December 2022 to July 2023, the rate of growth in terms of prices for Vietnam amounted to 0.0% per month.
Price for Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines (CIF) - 2022
The average import price for mollusc preparations; abalone, prepared or preserveds stood at $13,423 per ton in 2022, with a decrease of -4.6% against the previous year. Overall, the import price recorded a abrupt decrease. The growth pace was the most rapid in 2021 when the average import price increased by 15% against the previous year. The import price peaked at $20,265 per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
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 China ($16,303 per ton), while the price for Taiwan (Chinese) ($9,237 per ton) was amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was attained by China (-4.3%), while the prices for the other major suppliers experienced a decline.
Exports of Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines
In 2022, the amount of mollusc preparations; abalone, prepared or preserveds exported from the Philippines surged to 282 tons, rising by 57% on 2021 figures. Over the period under review, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 78% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, exports of mollusc preparations; abalone, prepared or preserveds soared to $3.3M in 2022. In general, exports, however, continue to indicate a pronounced descent. The pace of growth was the most pronounced in 2021 when exports increased by 114% against the previous year.
| Export of Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 3.9 | 0.8 | 1.8 | 3.3 | -5.4% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 3.9 | 0.9 | 1.8 | 3.3 | -5.4% |
Top Export Markets for Mollusc Preparations; Abalone, Prepared or Preserved from the Philippines in 2022:
- South Korea (282.1 tons)
Imports of Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines
In 2022, approx. 795 kg of mollusc preparations; abalone, prepared or preserveds were imported into the Philippines; rising by 1,020% compared with the previous year's figure. In general, imports posted notable growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of mollusc preparations; abalone, prepared or preserveds surged to $11K in 2022. Over the period under review, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Mollusc Preparations; Abalone, Prepared or Preserved in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | N/A | 0.1 | N/A | 5.4 | 634.8% |
| China | 7.3 | 8.7 | 1.0 | 3.4 | -22.5% |
| Hong Kong SAR | 1.7 | N/A | N/A | 1.2 | -11.0% |
| Taiwan (Chinese) | N/A | N/A | N/A | 0.7 | 0% |
| Indonesia | N/A | 0.4 | N/A | N/A | 0% |
| Others | N/A | 0.1 | N/A | N/A | 0% |
| Total | 9.0 | 9.2 | 1.0 | 10.7 | 5.9% |
Top Suppliers of Mollusc Preparations; Abalone, Prepared or Preserved to the Philippines in 2022:
- Singapore (389.0 kg)
- China (208.0 kg)
- Hong Kong SAR (122.0 kg)
- Taiwan (Chinese) (76.0 kg)
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