Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines - 2024
Contents:
- Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines (FOB) - 2022
- Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines (CIF) - 2024
- Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines
- Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines
Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines (FOB) - 2022
In 2022, the average export price for powdered sweetened milk and cream of fat weight content over 1.5% amounted to $4,850 per ton, reducing by -4.6% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 powdered sweetened milk and cream of fat weight content over 1.5% increased by +75.1% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 41% against the previous year. The export price peaked at $5,085 per ton in 2021, and then fell modestly 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 Malaysia ($4,850 per ton), while the average price for exports to Thailand ($4,850 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 (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines (CIF) - 2024
The average import price for powdered sweetened milk and cream of fat weight content over 1.5% stood at $1,504 per ton in February 2024, jumping by 17% against the previous month. Over the period from January 2024 to February 2024, it increased at an average monthly rate of +16.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for Canada.
From January 2024 to February 2024, the rate of growth in terms of prices for Canada amounted to +16.9% per month.
Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines
In 2022, the amount of powdered sweetened milk and cream of fat weight content over 1.5% exported from the Philippines expanded notably to 9.8K tons, growing by 5.1% compared with 2021 figures. Overall, exports, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2020 when exports increased by 17% against the previous year. As a result, the exports reached the peak of 13K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.
In value terms, exports of powdered sweetened milk and cream of fat weight content over 1.5% amounted to $48M in 2022. The total export value increased at an average annual rate of +4.4% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 25%. As a result, the exports attained the peak of $52M. From 2021 to 2022, the growth of the exports of remained at a lower figure.
| Export of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 20.3 | 25.0 | 23.5 | 23.1 | 4.4% |
| Others | 21.6 | 27.3 | 24.1 | 24.6 | 4.4% |
| Total | 41.9 | 52.3 | 47.6 | 47.7 | 4.4% |
Top Export Markets for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% from the Philippines in 2022:
- Malaysia (4.8K tons)
Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines
In 2022, overseas purchases of powdered sweetened milk and cream of fat weight content over 1.5% decreased by -64.4% to 590 tons, falling for the second consecutive year after two years of growth. Overall, imports saw a significant decrease. The pace of growth was the most pronounced in 2020 with an increase of 71%. As a result, imports reached the peak of 4.5K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of powdered sweetened milk and cream of fat weight content over 1.5% dropped dramatically to $2.7M in 2022. Over the period under review, imports saw a dramatic decline. The pace of growth was the most pronounced in 2020 with an increase of 73% against the previous year. As a result, imports attained the peak of $16M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 787 | 401 | 2,178 | 897 | 4.5% |
| Canada | 100 | 78.9 | N/A | 211 | 28.3% |
| Italy | N/A | N/A | N/A | 113 | 0% |
| Denmark | 2,309 | 452 | 146 | 80.9 | -67.3% |
| United States | 328 | 6,648 | 682 | 29.5 | -55.2% |
| Germany | 863 | N/A | N/A | N/A | 0% |
| Others | 4,594 | 7,925 | 3,349 | 1,350 | -33.5% |
| Total | 8,982 | 15,504 | 6,354 | 2,681 | -33.2% |
Top Suppliers of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% to the Philippines in 2022:
- Malaysia (197.2 tons)
- Canada (46.3 tons)
- Italy (24.8 tons)
- Denmark (17.8 tons)
- United States (6.5 tons)
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