Philippines: Market for Dried Cod, Whether Or Not Salted 2021

Market Size for Dried Cod, Whether Or Not Salted in the Philippines

In 2019, the Philippine market for dried cod, whether or not salted decreased by -X% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the market value increased by X% year-to-year. Over the period under review, the market reached the peak level at $X in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.

Production of Dried Cod, Whether Or Not Salted in the Philippines

In value terms, production of dried cod, whether or not salted fell to $X in 2019 estimated in export prices. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Production peaked at $X in 2008; however, from 2009 to 2019, production stood at a somewhat lower figure.

Exports of Dried Cod, Whether Or Not Salted

Exports from the Philippines

In 2019, overseas shipments of dried cod, whether or not salted increased by X% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, exports enjoyed perceptible growth. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Over the period under review, exports reached the maximum in 2019 and are likely to see gradual growth in years to come.

In value terms, exports of dried cod, whether or not salted surged to $X in 2019. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Over the period under review, exports hit record highs at $X in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for exports of dried cod, whether or not salted from the Philippines, accounting for a X% share of total exports. Moreover, exports of dried cod, whether or not salted to Saudi Arabia exceeded the volume sent to the second major destination, the U.S. (X tons), sevenfold.

From 2007 to 2019, the average annual growth rate of volume to Saudi Arabia totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (-X% per year) and France (+X% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for dried cod, whether or not salted exports from the Philippines, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports.

From 2007 to 2019, the average annual growth rate of value to Saudi Arabia totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the U.S. (-X% per year) and France (-X% per year).

Export Prices by Country

In 2019, the average export price for dried cod, whether or not salted amounted to $X per ton, waning by -X% against the previous year. Overall, the export price showed a noticeable descent. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, average export prices reached the maximum at $X per ton in 2007; however, from 2008 to 2019, export prices failed to regain the momentum.

There were significant differences in the average prices for the major external markets. In 2019, the country with the highest price was France ($X per ton), while the average price for exports to the U.S. ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced a decline.

Imports of Dried Cod, Whether Or Not Salted

Imports into the Philippines

In 2019, the amount of dried cod, whether or not salted imported into the Philippines soared to X tons, jumping by X% on 2018 figures. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2008 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

In value terms, imports of dried cod, whether or not salted soared to $X in 2019. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2008 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2019, imports remained at a lower figure.

Imports by Country

Japan (X kg), Singapore (X kg) and Norway (X kg) were the main suppliers of imports of dried cod, whether or not salted to the Philippines.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore, while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constituted the largest supplier of dried cod, whether or not salted to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by Japan ($X), with a X% share of total imports.

From 2007 to 2019, the average annual growth rate of value from Singapore amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+X% per year) and Norway (+X% per year).

Import Prices by Country

In 2019, the average import price for dried cod, whether or not salted amounted to $X per ton, reducing by -X% against the previous year. Over the period under review, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2019, the growth in terms of the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Singapore ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Japan, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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