Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines - 2023
Contents:
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines (CIF) - 2022
- Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines (FOB) - 2023
- Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines
- Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines (CIF) - 2022
In 2022, the average import price for soups and broths and preparations therefor; homogenised composite food preparationses amounted to $1,253 per ton, dropping by -6.1% against the previous year. Overall, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 an increase of 25% against the previous year. The import price peaked at $2,117 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
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 ($3,358 per ton), while the price for Canada ($543 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines (FOB) - 2023
In December 2023, the average export price for soups and broths and preparations therefor; homogenised composite food preparationses amounted to $2,885 per ton, which is down by -16.6% against the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2023 an increase of 40% against the previous month. As a result, the export price attained the peak level of $4,555 per ton. From August 2023 to December 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($12,176 per ton), while the average price for exports to the United States ($2,264 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines
In 2022, approx. 7.5K tons of soups and broths and preparations therefor; homogenised composite food preparationses were imported into the Philippines; increasing by 24% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.2% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of soups and broths and preparations therefor; homogenised composite food preparationses surged to $9.4M in 2022. The total import value increased at an average annual rate of +7.6% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. As a result, imports attained the peak of $10M. From 2021 to 2022, the growth of imports of remained at a lower figure.
| Import of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 123 | 103 | 967 | 2,341 | 167.0% |
| South Korea | 1,959 | 2,791 | 1,776 | 1,520 | -8.1% |
| United States | 1,496 | 1,461 | 1,105 | 1,499 | 0.1% |
| Thailand | 473 | 2,514 | 1,860 | 1,264 | 38.8% |
| Malaysia | 759 | 731 | 749 | 1,122 | 13.9% |
| China | 1,115 | 1,220 | 885 | 673 | -15.5% |
| Japan | 670 | 215 | 231 | 350 | -19.5% |
| Denmark | N/A | 1,035 | 47.9 | 189 | -57.3% |
| Canada | 238 | N/A | 41.5 | 77.1 | -31.3% |
| Others | 753 | 265 | 453 | 415 | -18.0% |
| Total | 7,586 | 10,335 | 8,115 | 9,449 | 7.6% |
Top Suppliers of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations to the Philippines in 2022:
- South Korea (2633.4 tons)
- United States (1478.4 tons)
- Australia (1014.3 tons)
- Thailand (548.9 tons)
- Malaysia (434.3 tons)
- Japan (406.0 tons)
- Denmark (269.9 tons)
- China (200.5 tons)
- Canada (142.2 tons)
Exports of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines
Exports of soups and broths and preparations therefor; homogenised composite food preparationses from the Philippines surged to 1K tons in 2022, with an increase of 250% against the year before. Overall, exports, however, showed a sharp slump.
In value terms, exports of soups and broths and preparations therefor; homogenised composite food preparationses skyrocketed to $2.8M in 2022. Over the period under review, exports, however, recorded a noticeable curtailment.
| Export of Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 438 | 315 | 499 | 658 | 14.5% |
| Vietnam | 2,248 | 117 | 130 | 465 | -40.9% |
| United States | N/A | 3.6 | 52.1 | 428 | 990.4% |
| Canada | 30.1 | 15.9 | 5.0 | 386 | 134.1% |
| Japan | 34.1 | 0.7 | 62.9 | 260 | 96.8% |
| Australia | 269 | 87.4 | 117 | 178 | -12.9% |
| Taiwan (Chinese) | N/A | N/A | 9.0 | 113 | 1155.6% |
| Others | 138 | 331 | 104 | 343 | 35.5% |
| Total | 3,157 | 871 | 979 | 2,831 | -3.6% |
Top Export Markets for Soups and Broths and Preparations Therefor; Homogenised Composite Food Preparations from the Philippines in 2022:
- United Arab Emirates (275.9 tons)
- United States (171.7 tons)
- Vietnam (169.5 tons)
- Canada (146.9 tons)
- Taiwan (Chinese) (92.5 tons)
- Australia (65.2 tons)
- Japan (32.1 tons)
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