Philippines: Cereal Germ Market 2024

Cereal Germ Market Size in the Philippines

The Philippine cereal germ market reduced slightly to $X in 2023, declining by X% against the previous year. In general, consumption, however, saw a measured expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Cereal Germ Production in the Philippines

In value terms, cereal germ production contracted modestly to $X in 2023 estimated in export price. In general, production, however, continues to indicate temperate growth. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Cereal Germ Exports

Exports from the Philippines

In 2023, approx. X tons of cereal germ were exported from the Philippines; surging by X% on 2022 figures. Overall, total exports indicated a significant increase from 2022 to 2023: its volume increased at an average annual rate of X% over the last one years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cereal germ exports soared to $X in 2023. Over the period under review, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Qatar (X tons), the United Arab Emirates (X tons) and Kuwait (X tons) were the main destinations of cereal germ exports from the Philippines, with a combined X% share of total exports.

From 2022 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the largest markets for cereal germ exported from the Philippines worldwide, together comprising X% of total exports.

Among the main countries of destination, Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average cereal germ export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2023, amid the top suppliers, the countries with the highest prices were the United Arab Emirates ($X per ton) and Kuwait ($X per ton), while the average price for exports to Bahrain ($X per ton) and Qatar ($X per ton) were amongst the lowest.

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

Cereal Germ Imports

Imports into the Philippines

Cereal germ imports into the Philippines was estimated at X tons in 2023, stabilizing at the year before. Overall, imports recorded a abrupt decline. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, cereal germ imports stood at $X in 2023. Over the period under review, imports saw a sharp contraction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Taiwan (Chinese) (X tons) constituted the largest supplier of cereal germ to the Philippines, accounting for a X% share of total imports. Moreover, cereal germ imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Switzerland (X kg), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from Taiwan (Chinese) stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Switzerland (X% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of cereal germ to the Philippines, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Taiwan (Chinese) was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Australia (X% per year).

Import Prices by Country

The average cereal germ import price stood at $X per ton in 2023, almost unchanged from the previous year. In general, the import price showed a abrupt decrease. The growth pace was the most rapid in 2019 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform