Sulphites; of Sodium Price in the Philippines - 2023

Sulphites; of Sodium Price in the Philippines (CIF) - 2022

The average sulphites; of sodium import price stood at $586 per ton in 2022, increasing by 8.7% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +10.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 71%. The import price peaked at $622 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($1,170 per ton), while the price for China ($461 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Sulphites; of Sodium Price in the Philippines (FOB) - 2022

The average sulphites; of sodium export price stood at $25,764 per ton in 2022, with an increase of 2.7% against the previous year. In general, the export price enjoyed significant growth. The pace of growth appeared the most rapid in 2015 when the average export price increased by 18%. The export price peaked in 2022 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Vietnam.

From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to +51.4% per year.

Sulphites; of Sodium Imports in the Philippines

In 2022, after two years of decline, there was significant growth in purchases abroad of sulphites; of sodia, when their volume increased by 94% to 19K tons. Over the period under review, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphites; of sodium imports surged to $11M in 2022. In general, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Sulphites; of Sodium in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	4.0	4.6	3.4	5.7	12.5%
China	0.5	0.4	0.6	3.2	85.7%
Japan	1.0	N/A	0.8	2.4	33.9%
Germany	0.5	0.7	0.4	0.2	-26.3%
Others	0.2	0.2	0.2	N/A	0.0%
Total	6.3	5.9	5.4	11.4	21.9%

Top Suppliers of Sulphites; of Sodium to the Philippines in 2022:

Thailand (8.4K tons)
China (6.9K tons)
Japan (4.0K tons)
Germany (0.1K tons)

Sulphites; of Sodium Exports in the Philippines

In 2022, sulphites; of sodium exports from the Philippines reduced dramatically to 576 kg, dropping by -51.3% against the previous year. In general, exports showed a sharp decline.

In value terms, sulphites; of sodium exports declined sharply to $15K in 2022. Overall, exports recorded a dramatic descent.