Price for Yarn; of Hemp (Cannabis Sativa L.) in the Philippines - 2022

Price for Yarn; of Hemp (Cannabis Sativa L.) in the Philippines (FOB) - 2022

In 2022, the average export price for yarn; of hemp (cannabis sativa l.)s amounted to $25,510 per ton, jumping by 48% against the previous year. Over the period under review, the export price posted a significant increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 144%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($41,857 per ton), while the average price for exports to South Korea ($11,154 per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+41.3%), while the prices for the other major destinations experienced more modest paces of growth.

Exports of Yarn; of Hemp (Cannabis Sativa L.) in the Philippines

In 2022, exports of yarn; of hemp (cannabis sativa l.)s from the Philippines declined remarkably to 98 kg, with a decrease of -71.8% compared with the year before. Overall, exports faced a precipitous setback. The smallest decline of -33.5% was in 2021.

In value terms, exports of yarn; of hemp (cannabis sativa l.)s dropped dramatically to $2.5K in 2022. In general, exports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2021 when exports increased by 62% against the previous year.

Export of Yarn; of Hemp (Cannabis Sativa L.) in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	2.9	1.5	3.4	1.5	-19.7%
China	3.1	2.0	2.3	0.9	-33.8%
South Korea	0.2	0.2	0.3	0.1	-20.6%
Others	N/A	N/A	N/A	N/A	0%
Total	6.3	3.7	6.0	2.5	-26.5%