Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines - 2022
Contents:
- Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines (FOB) - 2022
- Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines (CIF) - 2022
- Exports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines
- Imports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines
Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines (FOB) - 2022
The average export price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds stood at $6,497 per ton in 2022, growing by 5.2% against the previous year. Overall, the export price continues to indicate prominent growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 68%. Over the period under review, the average export prices attained the maximum at $14,461 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($6,527 per ton), while the average price for exports to Canada ($5,000 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 Switzerland (+6.4%), while the prices for the other major destinations experienced a decline.
Price for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines (CIF) - 2022
In 2022, the average import price for vegetable oils; linseed oil and its fractions, crude, not chemically modifieds amounted to $2,103 per ton, falling by -6.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 54%. Over the period under review, average import prices hit record highs at $2,253 per ton in 2021, and then dropped in the following year.
As there is only one major supplying country, the average price level is determined by prices for Belgium.
From 2012 to 2022, the rate of growth in terms of prices for Belgium amounted to +0.6% per year.
Exports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines
In 2022, shipments abroad of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds decreased by -6.8% to 670 kg for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total exports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +12.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.1% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 24% against the previous year.
In value terms, exports of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds reduced modestly to $4.4K in 2022. The total export value increased at an average annual rate of +2.0% from 2019 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 4.1%.
| Export of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brazil | N/A | N/A | N/A | 4.2 | 0% |
| Switzerland | N/A | N/A | 2.7 | 0.2 | -92.6% |
| United States | 4.1 | 4.2 | N/A | N/A | 2.4% |
| Canada | N/A | N/A | 1.3 | N/A | 0% |
| Others | N/A | 0.1 | 0.5 | N/A | 400.0% |
| Total | 4.1 | 4.3 | 4.4 | 4.4 | 2.4% |
Top Export Markets for Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified from the Philippines in 2022:
- Brazil (637.0 kg)
- Switzerland (29.0 kg)
- Canada (2.0 kg)
Imports of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines
Imports of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds into the Philippines shrank remarkably to 116 kg in 2022, reducing by -24.7% compared with 2021. In general, imports recorded a precipitous decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 103% against the previous year.
In value terms, imports of vegetable oils; linseed oil and its fractions, crude, not chemically modifieds declined notably to $244 in 2022. Overall, imports recorded a sharp downturn. The most prominent rate of growth was recorded in 2021 with an increase of 144%.
| Import of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified in the Philippines (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 3,242 | 140 | 338 | 238 | -58.1% |
| Others | 553 | 2.0 | 9.0 | 6.0 | -77.9% |
| Total | 3,795 | 142 | 347 | 244 | -59.9% |
Top Suppliers of Vegetable Oils; Linseed Oil and Its Fractions, Crude, Not Chemically Modified to the Philippines in 2022:
- Belgium (113.0 kg)
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