Philippines: Castor Oil Seed Market 2020

Castor Oil Seed Market Size in the Philippines

The revenue of the castor oil seed market in the Philippines amounted to $X in 2017, waning by -X% against the previous year. In general, castor oil seed consumption continues to indicate a precipitous reduction. The pace of growth was the most pronounced in 2011, with an increase of X% year-to-year. In that year, the castor oil seed market attained their peak level of $X. From 2012 to 2017, growth of the castor oil seed market failed to regain its momentum.

Castor Oil Seed Production in the Philippines

Castor oil seed production in the Philippines totaled X tons in 2017, growing by X% against the previous year. The total output volume increased an average annual rate of +X% from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations over the period under review. The most prominent rate of growth was recorded in 2012, when it surged by X% year-to-year. Over the period under review, the castor oil seed production reached its peak figure volume in 2017, and is expected to retain its growth in the immediate term. Castor oil seed output in the Philippines indicated a slight expansion, which was largely conditioned by a slight increase of the harvested area and a modest expansion in yield figures.

In 2017, average yield of castor oil seed in the Philippines amounted to X kg per X has, stabilizing at the previous year. The yield figure increased an average annual rate of +X% over the period from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2009, with an increase of X% year-to-year. The Philippines castor oil seed yield peaked of X kg per X has in 2010; however, from 2011 to 2017, it failed to regain its momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2017, approx. X ha of castor oil seed were harvested in the Philippines; lowering by -X% against the previous year. Overall, castor oil seed harvested area continues to indicate an abrupt contraction. The most prominent rate of growth was recorded in 2010, when it surged by -X% against the previous year. The Philippines castor oil seed harvested area peaked of X ha in 2007; however, from 2008 to 2017, it failed to regain its momentum.

Castor Oil Seed Exports in the Philippines

In 2017, the amount of castor oil seed exported from the Philippines totaled X tons, lowering by -X% against the previous year. In general, castor oil seed exports continue to indicate a drastic drop. The growth pace was the most rapid in 2008, when it surged by X% against the previous year. Over the period under review, the castor oil seed exports reached its maximum volume of X tons in 2009; however, from 2010 to 2017, it failed to regain its momentum.

In value terms, castor oil seed exports stood at $X in 2017. Overall, castor oil seed exports continue to indicate a drastic downturn. Over the period under review, the castor oil seed exports reached its peak figure level of $X in 2012; however, from 2013 to 2017, it failed to regain its momentum.

Castor Oil Seed Exports by Country in the Philippines

India prevails in castor oil seed exports structure, finishing at X tons, which was approx. X% of total exports in 2017. The Netherlands (X tons), France (X tons) and Germany (X tons) occupied the minor share of total exports.

India was also the fastest growing in terms of the castor oil seed exports, with a CAGR of +X% from 2007 to 2017. At the same time, Germany (+X%) and France (+X%) displayed positive paces of growth. The Netherlands experienced a relatively flat trend pattern. While the share of India (-X%) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest castor oil seed supplier from the Philippines, making up X% of global exports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of global exports. It was followed by France, with a X% share.

From 2007 to 2017, the average annual growth rate of value in India stood at +X%. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+X% per year) and France (+X% per year).

Castor Oil Seed Export Prices by Country in the Philippines

The castor oil seed export price in the Philippines stood at $X per ton in 2017, jumping by X% against the previous year. In general, castor oil seed export price continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2012, when it surged by X% year-to-year. The Philippines export price peaked of $X per ton in 2015; however, from 2016 to 2017, it failed to regain its momentum.

Export prices varied noticeably by the country of destination; the country with the highest export price was Germany ($X per ton), while India ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by the Netherlands (+X% per year), while the other leaders experienced more modest paces of growth.

Castor Oil Seed Imports in the Philippines

In 2017, the amount of castor oil seed imported into the Philippines stood at X tons, jumping by X% against the previous year. In general, the total imports indicated a tangible increase from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the castor oil seed imports increased by +X% against 2015 indices. The growth pace was the most rapid in 2011, with an increase of X% year-to-year. Over the period under review, the castor oil seed imports reached its maximum volume of X tons in 2008; however, from 2009 to 2017, it stood at a somewhat lower level.

In value terms, castor oil seed imports amounted to $X in 2017. In general, castor oil seed imports continue to indicate a strong growth. The Philippines imports peaked in 2017, and are expected to retain its growth in the immediate term.

Castor Oil Seed Imports by Country in the Philippines

In 2017, China (X tons) represented the major importer for castor oil seed, constituting X% of total imports. The U.S. (X tons) ranks second in terms of the global imports with a X% share, followed by France (X%), Germany (X%) and the Netherlands (X%). The following importers - Thailand (X tons), Japan (X tons), Italy (X tons) and South Korea (X tons) together made up X% of total imports.

China was also the fastest growing in terms of the castor oil seed imports, with a CAGR of +X% from 2007 to 2017. At the same time, Thailand (+X%), South Korea (+X%), the U.S. (+X%) and Germany (+X%) displayed positive paces of growth. Italy, the Netherlands and France experienced a relatively flat trend pattern. By contrast, Japan (-X%) illustrated a downward trend over the same period. From 2007 to 2017, the share of Thailand, the U.S. and China decreased by -X%, -X% and -X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported castor oil seed into the Philippines, making up X% of global imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of global imports. It was followed by France, with a X% share.

In China, castor oil seed imports increased at an average annual rate of +X% over the period from 2007-2017. In the other countries, the average annual rates were as follows: the U.S. (+X% per year) and France (+X% per year).

Castor Oil Seed Import Prices by Country in the Philippines

In 2017, the castor oil seed import price in the Philippines amounted to $X per ton, jumping by X% against the previous year. Overall, the import price indicated a strong increase from 2007 to 2017: its price increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the castor oil seed import price increased by +X% against 2012 indices. The pace of growth was the most pronounced in 2008, an increase of X% year-to-year. Over the period under review, the import prices for castor oil seed attained its maximum level in 2017, and is expected to retain its growth in the near future.

Average import prices varied somewhat amongst the major importing countries. In 2017, major importing countries recorded the following import prices: in Italy ($X per ton) and Germany ($X per ton), while Thailand ($X per ton) and China ($X per ton) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by France (+X% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform