Philippines: Caviar (Sturgeon) Market 2024

Caviar (Sturgeon) Market Size in the Philippines

The Philippine caviar (sturgeon) market expanded rapidly to $X in 2021, surging by 12% against the previous year. Overall, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.5% against 2019 indices. Caviar (sturgeon) consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Caviar (Sturgeon) Production in the Philippines

In value terms, caviar (sturgeon) production reached $X in 2021 estimated in export price. Over the period under review, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.5% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 49%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Caviar (Sturgeon) Exports

Exports from the Philippines

In 2020, exports of caviar (sturgeon) from the Philippines expanded significantly to X kg, picking up by 7.9% against the year before. Over the period under review, exports saw significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 257% against the previous year. The exports peaked in 2020 and are expected to retain growth in the immediate term.

In value terms, caviar (sturgeon) exports reached $X in 2020. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 89%. The exports peaked in 2020 and are expected to retain growth in the near future.

Exports by Country

The United States (X kg) was the main destination for caviar (sturgeon) exports from the Philippines, accounting for a approx. 100% share of total exports.

From 2013 to 2020, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for caviar (sturgeon) exports from the Philippines.

From 2013 to 2020, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

The average caviar (sturgeon) export price stood at $X per ton in 2020, remaining constant against the previous year. In general, the export price, however, continues to indicate a abrupt setback. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2020, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2013 to 2020, the rate of growth in terms of prices for the United States amounted to 0.0% per year.

Caviar (Sturgeon) Imports

Imports into the Philippines

In 2021, overseas purchases of caviar (sturgeon) decreased by -69.3% to X kg, falling for the third year in a row after seven years of growth. In general, imports, however, showed a significant expansion. The growth pace was the most rapid in 2018 when imports increased by 2,944% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, caviar (sturgeon) imports dropped remarkably to $X in 2021. Over the period under review, imports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of 559%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X kg) constituted the largest supplier of caviar (sturgeon) to the Philippines, with a 90% share of total imports. It was followed by Japan (X kg), with a 2.6% share of total imports. Uruguay (X kg) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore stood at +48.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (0.0% per year) and Uruguay (-66.7% per year).

In value terms, Singapore ($X) constituted the largest supplier of caviar (sturgeon) to the Philippines, comprising 66% of total imports. The second position in the ranking was taken by Uruguay ($X), with a 3.9% share of total imports. It was followed by China, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from Singapore totaled +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Uruguay (-88.8% per year) and China (-15.0% per year).

Import Prices by Country

The average caviar (sturgeon) import price stood at $X per kg in 2021, which is down by -27.9% against the previous year. In general, the import price recorded a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 329%. The import price peaked at $X per kg in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Uruguay ($X per kg), while the price for Japan ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-15.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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