Price for Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines - 2023
Contents:
- Price for Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines (CIF) - 2023
- Price for Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines (FOB) - 2023
- Imports of Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines
- Exports of Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines
Price for Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines (CIF) - 2023
The average import price for vegetables (uncooked or cooked by steaming or boiling in water); frozen stood at $1,435 per ton in November 2023, reducing by -1.9% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in June 2023 when the average import price increased by 12% m-o-m. The import price peaked at $1,463 per ton in October 2023, and then dropped in the following month.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the country with the highest price was India ($1,526 per ton), while the price for Belgium ($1,418 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by India (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines (FOB) - 2023
The average export price for vegetables (uncooked or cooked by steaming or boiling in water); frozen stood at $1,508 per ton in November 2023, leveling off at the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in June 2023 an increase of 23% against the previous month. The export price peaked at $1,530 per ton in September 2023; afterwards, it flattened through to November 2023.
Average prices varied noticeably for the major export markets. In November 2023, the country with the highest price was the United States ($1,543 per ton), while the average price for exports to Canada ($1,352 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines
In 2022, imports of vegetables (uncooked or cooked by steaming or boiling in water); frozen into the Philippines reduced markedly to 8K tons, with a decrease of -38.4% against 2021 figures. Overall, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 143% against the previous year. As a result, imports reached the peak of 13K tons, and then shrank dramatically in the following year.
In value terms, imports of vegetables (uncooked or cooked by steaming or boiling in water); frozen contracted remarkably to $11M in 2022. Over the period under review, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2021 with an increase of 135% against the previous year. As a result, imports reached the peak of $15M, and then contracted sharply in the following year.
| Import of Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.7 | 5.5 | 12.9 | 9.5 | 12.3% |
| Belgium | 0.1 | 0.3 | 1.4 | 0.5 | 71.0% |
| New Zealand | 0.3 | 0.3 | 0.3 | 0.4 | 10.1% |
| India | N/A | N/A | N/A | 0.2 | 0% |
| Others | 0.2 | 0.3 | 0.3 | 0.1 | -20.6% |
| Total | 7.4 | 6.3 | 14.9 | 10.6 | 12.7% |
Top Suppliers of Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen to the Philippines in 2022:
- China (7.0K tons)
- Belgium (0.4K tons)
- New Zealand (0.3K tons)
- India (0.2K tons)
Exports of Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines
For the third consecutive year, the Philippines recorded decline in shipments abroad of vegetables (uncooked or cooked by steaming or boiling in water); frozen, which decreased by -45% to 744 tons in 2022. In general, exports faced a sharp reduction. The smallest decline of -28.7% was in 2021.
In value terms, exports of vegetables (uncooked or cooked by steaming or boiling in water); frozen fell markedly to $939K in 2022. Over the period under review, exports showed a sharp slump. The smallest decline of -28.3% was in 2021.
| Export of Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 570 | 618 | 896 | 674 | 5.7% |
| Canada | 813 | 838 | 419 | 168 | -40.9% |
| Guam | 44.9 | N/A | 0.5 | 20.7 | -22.7% |
| Spain | N/A | N/A | N/A | 19.6 | 0% |
| Kuwait | 391 | N/A | 49.4 | 14.4 | -66.7% |
| Australia | 391 | 154 | 50.7 | 14.2 | -66.9% |
| Qatar | 350 | 402 | 10.3 | 2.7 | -80.2% |
| Japan | 358 | 104 | 7.7 | N/A | -85.3% |
| Bahrain | 139 | 55.7 | 22.9 | N/A | -59.4% |
| Others | 276 | 142 | 203 | 24.6 | -55.3% |
| Total | 3,333 | 2,313 | 1,659 | 939 | -34.4% |
Top Export Markets for Vegetables (Uncooked or Cooked by Steaming or Boiling in Water); Frozen from the Philippines in 2022:
- United States (534.5 tons)
- Canada (131.5 tons)
- Spain (17.5 tons)
- Guam (16.3 tons)
- Kuwait (11.3 tons)
- Australia (11.1 tons)
- Qatar (2.2 tons)
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