Philippines: Bleached Sulphate Pulp Market 2024

Bleached Sulphate Pulp Exports

Exports from the Philippines

Bleached sulphate pulp exports from the Philippines dropped remarkably to X tons in 2021, which is down by -32.2% against 2020. Overall, exports, however, posted a strong increase. The growth pace was the most rapid in 2020 with an increase of 161% against the previous year. As a result, the exports reached the peak of X tons, and then contracted notably in the following year.

In value terms, bleached sulphate pulp exports declined dramatically to $X in 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 100%. As a result, the exports reached the peak of $X, and then contracted rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for bleached sulphate pulp exports from the Philippines, accounting for a 91% share of total exports. It was followed by Turkey (X tons), with a 2.4% share of total exports. France (X tons) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+44.4% per year) and France (+10.0% per year).

In value terms, the United States ($X) remains the key foreign market for bleached sulphate pulp exports from the Philippines, comprising 64% of total exports. The second position in the ranking was taken by Turkey ($X), with a 15% share of total exports. It was followed by the UK, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+46.7% per year) and the UK (+33.8% per year).

Export Prices by Country

The average bleached sulphate pulp export price stood at $X per ton in 2021, rising by 23% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2018 an increase of 23% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Turkey ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.

Bleached Sulphate Pulp Imports

Imports into the Philippines

After two years of decline, overseas purchases of bleached sulphate pulp increased by 3% to X tons in 2021. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 93%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, bleached sulphate pulp imports skyrocketed to $X in 2021. In general, imports showed resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by 87% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest bleached sulphate pulp supplier to the Philippines, accounting for a 84% share of total imports. Moreover, bleached sulphate pulp imports from the United States exceeded the figures recorded by the second-largest supplier, South Africa (X tons), more than tenfold. The third position in this ranking was held by Indonesia (X tons), with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (-4.2% per year) and Indonesia (-0.6% per year).

In value terms, the United States ($X) constituted the largest supplier of bleached sulphate pulp to the Philippines, comprising 85% of total imports. The second position in the ranking was held by South Africa ($X), with a 4.6% share of total imports. It was followed by Indonesia, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+2.6% per year) and Indonesia (+7.4% per year).

Import Prices by Country

In 2021, the average bleached sulphate pulp import price amounted to $X per ton, increasing by 29% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were the United States ($X per ton) and Indonesia ($X per ton), while the price for Canada ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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