Price for Rattans Used Primarily for Plaiting in the Philippines - 2023

Contents:

1. Price for Rattans Used Primarily for Plaiting in the Philippines (CIF) - 2022
2. Price for Rattans Used Primarily for Plaiting in the Philippines (FOB) - 2022
3. Imports of Rattans Used Primarily for Plaiting in the Philippines
4. Exports of Rattans Used Primarily for Plaiting in the Philippines

Price for Rattans Used Primarily for Plaiting in the Philippines (CIF) - 2022

The average import price for rattans used primarily for plaitings stood at $15,505 per ton in 2022, increasing by 3.8% against the previous year. In general, the import price continues to indicate significant growth. The growth pace was the most rapid in 2015 when the average import price increased by 123% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($15,515 per ton), while the price for China ($15,504 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Rattans Used Primarily for Plaiting in the Philippines (FOB) - 2022

The average export price for rattans used primarily for plaitings stood at $109 per ton in 2022, dropping by -89.4% against the previous year. In general, the export price saw a abrupt slump. The pace of growth appeared the most rapid in 2014 when the average export price increased by 60% against the previous year. Over the period under review, the average export prices hit record highs at $1,031 per ton in 2021, and then fell sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($1,050 per ton), while the average price for exports to Indonesia amounted to $9.7 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Rattans Used Primarily for Plaiting in the Philippines

In 2022, after three years of growth, there was significant decline in overseas purchases of rattans used primarily for plaitings, when their volume decreased by -49.2% to 12 tons. In general, imports, however, showed a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 713% against the previous year. As a result, imports attained the peak of 23 tons, and then contracted significantly in the following year.

In value terms, rattans used primarily for plaiting imports dropped notably to $181K in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 1,000% against the previous year. As a result, imports reached the peak of $343K, and then fell notably in the following year.

Top Suppliers of Rattans Used Primarily for Plaiting to the Philippines in 2022:

1. China (6.7 tons)
2. Bangladesh (4.4 tons)
3. Hong Kong SAR (0.6 tons)

Exports of Rattans Used Primarily for Plaiting in the Philippines

In 2022, shipments abroad of rattans used primarily for plaitings decreased by -90.4% to 745 tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, posted a resilient increase. The growth pace was the most rapid in 2020 when exports increased by 502% against the previous year.

In value terms, rattans used primarily for plaiting exports dropped remarkably to $81K in 2022. Overall, exports continue to indicate a precipitous curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 550% against the previous year.

Top Export Markets for Rattans Used Primarily for Plaiting from the Philippines in 2022:

1. Indonesia (673.5 tons)
2. China (71.3 tons)

Source: IndexBox Market Intelligence Platform