Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines - 2023
Contents:
- Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines (CIF) - 2023
- Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines (FOB) - 2022
- Imports of Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines
- Exports of Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines
Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines (CIF) - 2023
The average import price for offal, edible; of swine, (other than livers), frozen stood at $1,287 per ton in November 2023, growing by 2.6% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 when the average import price increased by 11% month-to-month. As a result, import price reached the peak level of $1,450 per ton. From March 2023 to November 2023, the average import prices remained at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the highest price was recorded for prices from the United States ($1,379 per ton) and Canada ($1,372 per ton), while the price for the Netherlands ($1,205 per ton) and the UK ($1,229 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Denmark (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines (FOB) - 2022
In 2022, the average export price for offal, edible; of swine, (other than livers), frozen amounted to $1,000 per ton, which is down by -2.6% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for offal, edible; of swine, (other than livers), frozen decreased by -24.8% against 2016 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 48%. The export price peaked at $1,329 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Spain.
From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +29.5% per year.
Imports of Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines
In 2022, imports of offal, edible; of swine, (other than livers), frozen into the Philippines rose sharply to 224K tons, growing by 11% compared with the previous year. In general, imports showed a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of 117%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of offal, edible; of swine, (other than livers), frozen rose significantly to $292M in 2022. Over the period under review, imports saw strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 120%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 50.2 | 24.4 | 54.0 | 110 | 29.9% |
| Netherlands | 12.6 | 7.3 | 15.8 | 28.4 | 31.1% |
| Canada | 10.5 | 5.7 | 10.9 | 27.6 | 38.0% |
| France | 13.6 | 5.7 | 14.2 | 26.1 | 24.3% |
| United States | 19.7 | 9.2 | 13.9 | 22.7 | 4.8% |
| Denmark | 6.3 | 1.7 | 5.5 | 18.8 | 44.0% |
| United Kingdom | 8.2 | 3.8 | 9.6 | 17.5 | 28.7% |
| Belgium | 7.8 | 6.4 | 9.6 | 16.2 | 27.6% |
| Germany | 28.8 | 15.7 | 13.3 | N/A | -32.0% |
| Others | 69.5 | 44.7 | 127 | 24.3 | -29.6% |
| Total | 227 | 125 | 274 | 292 | 8.8% |
Top Suppliers of Offal, Edible; of Swine, (Other than Livers), Frozen to the Philippines in 2022:
- Spain (85.4K tons)
- Netherlands (21.5K tons)
- Canada (21.3K tons)
- France (19.5K tons)
- United States (16.5K tons)
- Denmark (14.2K tons)
- United Kingdom (13.8K tons)
- Belgium (12.8K tons)
Exports of Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines
For the third year in a row, the Philippines recorded decline in shipments abroad of offal, edible; of swine, (other than livers), frozen, which decreased by -4.9% to 25 tons in 2022. Overall, exports recorded a precipitous shrinkage. The smallest decline of -4.6% was in 2021.
In value terms, exports of offal, edible; of swine, (other than livers), frozen declined to $25K in 2022. In general, exports recorded a precipitous slump. The smallest decline of -6.8% was in 2021.
| Export of Offal, Edible; of Swine, (Other than Livers), Frozen in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 19.4 | 14.1 | 12.7 | 25.3 | 9.3% |
| Belgium | 17.6 | N/A | N/A | N/A | 0% |
| Vietnam | 15.6 | 12.8 | 12.6 | N/A | -10.1% |
| Angola | 3.7 | 2.4 | 1.9 | N/A | -28.3% |
| Others | 30.7 | N/A | N/A | N/A | 0% |
| Total | 86.9 | 29.3 | 27.3 | 25.3 | -33.7% |
Top Export Markets for Offal, Edible; of Swine, (Other than Livers), Frozen from the Philippines in 2022:
- Spain (25.3 tons)
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