Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines - 2023
Contents:
- Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines (CIF) - 2023
- Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines (FOB) - 2022
- Imports of Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines
- Exports of Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines
Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines (CIF) - 2023
In July 2023, the average import price for silicates; of sodium (excluding sodium metasilicates)s amounted to $390 per ton, declining by -6.8% against the previous month. Over the period under review, the import price saw a perceptible contraction. The pace of growth was the most pronounced in February 2023 when the average import price increased by 8.3% month-to-month. As a result, import price attained the peak level of $517 per ton. From March 2023 to July 2023, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In July 2023, the countries with the highest prices were Indonesia ($464 per ton) and Vietnam ($419 per ton), while the price for China ($320 per ton) and India ($370 per ton) were amongst the lowest.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Vietnam (-1.0%), while the prices for the other major suppliers experienced a decline.
Price for Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines (FOB) - 2022
In 2022, the average export price for silicates; of sodium (excluding sodium metasilicates)s amounted to $2,888 per ton, waning by -2.9% against the previous year. In general, the export price, however, saw significant growth. The export price peaked at $2,974 per ton in 2021, and then contracted slightly in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($3,455 per ton), while the average price for exports to Thailand stood at $1,087 per ton.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+1.0%).
Imports of Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines
In 2022, the amount of silicates; of sodium (excluding sodium metasilicates)s imported into the Philippines declined rapidly to 16K tons, falling by -24.5% against the previous year's figure. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. As a result, imports reached the peak of 21K tons, and then reduced markedly in the following year.
In value terms, imports of silicates; of sodium (excluding sodium metasilicates)s contracted modestly to $7.3M in 2022. The total import value increased at an average annual rate of +5.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. As a result, imports reached the peak of $7.6M, and then shrank in the following year.
| Import of Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 1.4 | 1.0 | 2.1 | 3.0 | 28.9% |
| Indonesia | 1.8 | 2.6 | 4.0 | 2.6 | 13.0% |
| China | 2.7 | 1.4 | 0.9 | 1.0 | -28.2% |
| Vietnam | N/A | N/A | 0.3 | 0.5 | 66.7% |
| Others | 0.3 | 0.5 | 0.3 | 0.2 | -12.6% |
| Total | 6.3 | 5.6 | 7.6 | 7.3 | 5.0% |
Top Suppliers of Silicates; of Sodium (Excluding Sodium Metasilicates) to the Philippines in 2022:
- India (6.6K tons)
- Indonesia (5.6K tons)
- China (2.5K tons)
- Vietnam (1.1K tons)
Exports of Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines
In 2022, the amount of silicates; of sodium (excluding sodium metasilicates)s exported from the Philippines reduced rapidly to 80 kg, with a decrease of -48.7% on the previous year's figure. Overall, exports saw a sharp setback.
In value terms, exports of silicates; of sodium (excluding sodium metasilicates)s declined significantly to $231 in 2022. Over the period under review, exports faced a precipitous curtailment.
| Export of Silicates; of Sodium (Excluding Sodium Metasilicates) in the Philippines (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Nigeria | 291 | 190 | -34.7% | ||
| Thailand | 97.0 | 25.0 | -74.2% | ||
| Others | 76.0 | 16.0 | -78.9% | ||
| Total | 464 | 231 | -50.2% | ||
Top Export Markets for Silicates; of Sodium (Excluding Sodium Metasilicates) from the Philippines in 2022:
- Nigeria (55.0 kg)
- Thailand (23.0 kg)
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