Philippines: Crabs, Not Frozen Market 2024

Crabs, Not Frozen Market Size in the Philippines

The Philippine crabs, not frozen market was estimated at less than $X in 2022, flattening at the previous year. In general, consumption saw a deep slump. Crabs, not frozen consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Crabs, Not Frozen Production in the Philippines

In value terms, crabs, not frozen production amounted to less than $X in 2022 estimated in export price. In general, production showed a perceptible setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by 19%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Crabs, Not Frozen Exports

Exports from the Philippines

In 2018, after two years of growth, there was significant decline in shipments abroad of crabs, not frozen, when their volume decreased by -10.3% to X tons. Overall, total exports indicated a prominent increase from 2012 to 2018: its volume increased at an average annual rate of +9.2% over the last six years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, exports increased by +13.6% against 2014 indices. The most prominent rate of growth was recorded in 2014 with an increase of 34%. The exports peaked at X tons in 2017, and then declined in the following year.

In value terms, crabs, not frozen exports dropped to $X in 2018. Over the period under review, total exports indicated prominent growth from 2012 to 2018: its value increased at an average annual rate of +7.6% over the last six-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, exports increased by +11.2% against 2016 indices. The growth pace was the most rapid in 2014 when exports increased by 34% against the previous year. Over the period under review, the exports hit record highs at $X in 2017, and then dropped in the following year.

Exports by Country

China (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) were the main destinations of crabs, not frozen exports from the Philippines, with a combined 87% share of total exports. Singapore, Macao SAR and the United States lagged somewhat behind, together comprising a further 13%.

From 2012 to 2018, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +36.7%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Hong Kong SAR ($X) and Taiwan (Chinese) ($X) constituted the largest markets for crabs, not frozen exported from the Philippines worldwide, together comprising 87% of total exports. Singapore, Macao SAR and the United States lagged somewhat behind, together comprising a further 13%.

Among the main countries of destination, the United States, with a CAGR of +35.8%, saw 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

The average crabs, not frozen export price stood at $X per ton in 2018, flattening at the previous year. Over the period under review, the export price, however, showed a slight shrinkage. The pace of growth was the most pronounced in 2013 when the average export price increased by 14%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2018, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2018, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+4.1%), while the prices for the other major destinations experienced mixed trend patterns.

Crabs, Not Frozen Imports

Imports into the Philippines

For the third year in a row, the Philippines recorded growth in purchases abroad of crabs, not frozen, which increased by 139% to X tons in 2017. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 1,430%. Imports peaked in 2017 and are likely to see steady growth in the immediate term.

In value terms, crabs, not frozen imports skyrocketed to $X in 2017. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 2,810% against the previous year. Over the period under review, imports hit record highs in 2017 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2017, Thailand (X tons) was the main supplier of crabs, not frozen to the Philippines, accounting for a approx. 100% share of total imports.

From 2012 to 2017, the average annual rate of growth in terms of volume from Thailand amounted to +148.2%.

In value terms, Thailand ($X) constituted the largest supplier of crabs, not frozen to the Philippines.

From 2012 to 2017, the average annual rate of growth in terms of value from Thailand totaled +310.8%.

Import Prices by Country

The average crabs, not frozen import price stood at $X per ton in 2017, increasing by 8.7% against the previous year. In general, the import price saw a strong expansion. The pace of growth appeared the most rapid in 2016 when the average import price increased by 95%. The import price peaked in 2017 and is likely to continue growth in years to come.

As there is only one major supplying country, the average price level is determined by prices for Thailand.

From 2012 to 2017, the rate of growth in terms of prices for Thailand amounted to +65.5% per year.

Source: IndexBox Platform

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