Philippines: Dried Grapes Market 2024

Dried Grapes Market Size in the Philippines

In 2022, the Philippine dried grapes market increased by 16% to $X, rising for the second year in a row after two years of decline. Overall, consumption posted a resilient increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Dried Grapes Exports

Exports from the Philippines

In 2022, overseas shipments of dried grapes increased by 16% to X tons, rising for the fourth year in a row after two years of decline. In general, exports recorded a pronounced increase. The growth pace was the most rapid in 2020 when exports increased by 6,410% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, dried grapes exports shrank modestly to $X in 2022. Overall, exports posted a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by 6,632%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for dried grapes exports from the Philippines, with a 83% share of total exports. Moreover, dried grapes exports to the United Arab Emirates exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), ninefold. The third position in this ranking was held by Qatar (X tons), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +37.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+61.9% per year) and Qatar (-62.6% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for dried grapes exports from the Philippines, comprising 83% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 8.9% share of total exports. It was followed by Qatar, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+58.8% per year) and Qatar (-44.7% per year).

Export Prices by Country

The average dried grapes export price stood at $X per ton in 2022, dropping by -14.1% against the previous year. Over the period under review, the export price, however, posted moderate growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 599% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the United Arab Emirates ($X per ton) and Hong Kong SAR ($X per ton), while the average price for exports to Qatar ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+47.9%), while the prices for the other major destinations experienced a decline.

Dried Grapes Imports

Imports into the Philippines

In 2022, imports of dried grapes into the Philippines soared to X tons, growing by 16% against the previous year. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.4% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 21% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, dried grapes imports soared to $X in 2022. In general, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 68% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest dried grapes supplier to the Philippines, accounting for a 89% share of total imports. Moreover, dried grapes imports from the United States exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.6% per year) and China (-5.9% per year).

In value terms, the United States ($X) constituted the largest supplier of dried grapes to the Philippines, comprising 89% of total imports. The second position in the ranking was held by India ($X), with a 6.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.0% per year) and China (+0.1% per year).

Import Prices by Country

In 2022, the average dried grapes import price amounted to $X per ton, flattening at the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dried grapes import price decreased by -18.6% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 59% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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