Selenium Price in the Philippines - 2023

Selenium Price in the Philippines (FOB) - 2023

The average selenium export price stood at $83,670 per ton in June 2023, falling by -26.6% against the previous month. Over the period under review, the export price continues to indicate a slight setback. The pace of growth was the most pronounced in May 2023 an increase of 384% m-o-m. The export price peaked at $145K per ton in July 2022; however, from August 2022 to June 2023, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Japan ($234K per ton), while the average price for exports to the United States totaled $51,194 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+389.4%), while the prices for the other major destinations experienced more modest paces of growth.

Selenium Price in the Philippines (CIF) - 2022

The average selenium import price stood at $7,586 per ton in 2022, waning by -49.5% against the previous year. In general, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 78%. As a result, import price reached the peak level of $71,578 per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($37,574 per ton), while the price for Belgium ($1,410 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Selenium Exports in the Philippines

After three years of growth, overseas shipments of selenia decreased by -34.6% to 215 tons in 2022. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 77% against the previous year. As a result, the exports reached the peak of 329 tons, and then shrank significantly in the following year.

In value terms, selenium exports surged to $16M in 2022. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 195% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Export of Selenium in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	N/A	N/A	5.1	9.9	94.1%
United States	4.3	3.4	4.8	5.3	7.2%
India	0.3	0.5	0.4	0.3	0.0%
Belgium	N/A	N/A	1.3	0.3	-76.9%
Thailand	0.2	0.1	0.3	0.2	0.0%
Brazil	0.2	0.1	0.4	0.1	-20.6%
China	0.2	N/A	0.2	0.1	-20.6%
Others	0.2	0.3	0.3	0.1	-20.6%
Total	5.3	4.3	12.7	16.3	45.4%

Top Export Markets for Selenium from the Philippines in 2022:

United States (102.9 tons)
Japan (37.3 tons)
India (19.5 tons)
Belgium (16.5 tons)
Thailand (14.5 tons)
China (10.2 tons)
Brazil (9.8 tons)

Selenium Imports in the Philippines

In 2022, selenium imports into the Philippines surged to 96 tons, with an increase of 215% on the previous year's figure. Over the period under review, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, selenium imports soared to $729K in 2022. Overall, imports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 108%.

Import of Selenium in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hong Kong SAR	26.7	21.8	N/A	374	141.1%
Belgium	N/A	N/A	N/A	79.6	0%
Russia	N/A	39.4	N/A	63.7	27.2%
Japan	N/A	14.9	31.8	61.9	103.8%
Canada	N/A	71.8	58.8	56.2	-11.5%
China	123	28.5	62.3	45.3	-28.3%
United States	44.2	35.1	279	37.1	-5.7%
India	39.6	N/A	12.2	10.2	-36.4%
South Korea	170	8.7	4.2	N/A	-84.3%
Poland	N/A	N/A	2.7	N/A	0%
Netherlands	727	N/A	7.4	N/A	-89.9%
Others	0.2	N/A	0.1	0.6	44.2%
Total	1,130	220	458	729	-13.6%