Philippines: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in the Philippines

In 2021, the Philippine fish meals and pellet market increased by 6.4% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded a sharp decline. Fish meals and pellet consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Flours, Meals And Pellets Of Fish in the Philippines

In value terms, fish meals and pellet production totaled $X in 2021 estimated in export price. In general, production showed a precipitous descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 1,143%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Flours, Meals And Pellets Of Fish

Exports from the Philippines

Fish meals and pellet exports from the Philippines shrank rapidly to X tons in 2021, waning by -74.4% compared with the previous year. Over the period under review, exports recorded a sharp decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 3,361% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, fish meals and pellet exports dropped rapidly to $X in 2021. Overall, exports recorded a dramatic slump. The pace of growth was the most pronounced in 2017 when exports increased by 1,621%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for fish meals and pellet exports from the Philippines, accounting for a 81% share of total exports. Moreover, fish meals and pellet exports to Australia exceeded the volume sent to the second major destination, Canada (X kg), ninefold. The third position in this ranking was taken by the United Arab Emirates (X kg), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume to Australia amounted to -35.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-77.1% per year) and the United Arab Emirates (-29.5% per year).

In value terms, Australia ($X) emerged as the key foreign market for flours, meals and pellets of fish exports from the Philippines, comprising 66% of total exports. The second position in the ranking was taken by Canada ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia amounted to -35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-75.6% per year) and the United Arab Emirates (-23.0% per year).

Export Prices by Country

In 2021, the average fish meals and pellet export price amounted to $X per ton, growing by 10% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 78%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish

Imports into the Philippines

For the fourth consecutive year, the Philippines recorded decline in purchases abroad of flours, meals and pellets of fish, which decreased by -46% to X tons in 2021. Overall, imports recorded a sharp contraction. The pace of growth appeared the most rapid in 2017 with an increase of 723%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, fish meals and pellet imports contracted slightly to $X in 2021. In general, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 156%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest fish meals and pellet supplier to the Philippines, with a 72% share of total imports. Moreover, fish meals and pellet imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sixfold. Thailand (X kg) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-41.5% per year) and Thailand (-5.6% per year).

In value terms, China ($X) constituted the largest supplier of flours, meals and pellets of fish to the Philippines, comprising 68% of total imports. The second position in the ranking was taken by Norway ($X), with a 24% share of total imports. It was followed by Thailand, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +36.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (-12.6% per year) and Thailand (+8.0% per year).

Import Prices by Country

In 2021, the average fish meals and pellet import price amounted to $X per ton, with an increase of 82% against the previous year. Over the period under review, the import price posted a significant increase. The pace of growth appeared the most rapid in 2015 when the average import price increased by 649%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Norway ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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