Philippines - Animal Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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View PricingAnimal Fats Price in the Philippines - 2023
Contents:
- Animal Fats Price in the Philippines (CIF) - 2022
- Animal Fats Price in the Philippines (FOB) - 2022
- Animal Fats Imports in the Philippines
- Animal Fats Exports in the Philippines
Animal Fats Price in the Philippines (CIF) - 2022
The average animal fats import price stood at $1,966 per ton in 2022, surging by 6.1% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by 11% against the previous year. As a result, import price reached the peak level of $2,004 per ton; afterwards, it flattened through to 2022.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($1,986 per ton), while the price for New Zealand ($775 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 (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Animal Fats Price in the Philippines (FOB) - 2022
In 2021, the average animal fats export price amounted to $2,946 per ton, shrinking by -59.2% against the previous year. Over the period under review, the export price faced a deep setback. The most prominent rate of growth was recorded in 2018 an increase of 27% against the previous year. The export price peaked at $11,498 per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Australia.
From 2014 to 2021, the rate of growth in terms of prices for Thailand amounted to +37.1% per year.
Animal Fats Imports in the Philippines
Animal fats imports into the Philippines declined notably to 324 tons in 2022, with a decrease of -59.7% compared with the previous year. Overall, imports showed a sharp contraction. The pace of growth was the most pronounced in 2021 when imports increased by 20%.
In value terms, animal fats imports fell sharply to $637K in 2022. Over the period under review, imports showed a precipitous decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 23%.
| Import of Animal Fats in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Chile | 1,249 | 776 | 911 | 435 | -29.6% |
| South Korea | 261 | 92.6 | 187 | 74.6 | -34.1% |
| Australia | 293 | 160 | 166 | 69.6 | -38.1% |
| Spain | 135 | 145 | 99.9 | 41.2 | -32.7% |
| New Zealand | 18.3 | 9.7 | 9.8 | 4.0 | -39.8% |
| Indonesia | 93.8 | N/A | N/A | N/A | 0% |
| Others | 44.6 | 26.0 | 117 | 13.0 | -33.7% |
| Total | 2,096 | 1,210 | 1,490 | 637 | -32.8% |
Top Suppliers of Animal Fats to the Philippines in 2022:
- Chile (219.0 tons)
- South Korea (40.4 tons)
- Australia (36.9 tons)
- Spain (22.1 tons)
- New Zealand (5.2 tons)
Animal Fats Exports in the Philippines
For the third consecutive year, the Philippines recorded growth in shipments abroad of animal fats and oils, which increased by 1,179% to 18 tons in 2021. In general, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, animal fats exports soared to $54K in 2021. Over the period under review, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Animal Fats in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Australia | N/A | N/A | 52.6 | 0% | |
| Canada | N/A | 10.4 | N/A | 0% | |
| Others | 2.3 | N/A | 1.9 | -9.1% | |
| Total | 2.3 | 10.4 | 54.5 | 386.8% | |
Top Export Markets for Animal Fats from the Philippines in 2022:
- Australia (18.4 tons)
This report provides an in-depth analysis of the animal fats market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10416030 - Animal fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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