Philippines: Frozen Potato Market 2024

Frozen Potato Market Size in the Philippines

The Philippine frozen potato market surged to $X in 2021, rising by 25% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a resilient increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Frozen Potato Exports

Exports from the Philippines

In 2021, approx. X tons of frozen potatoes were exported from the Philippines; shrinking by -29.8% on 2020 figures. Over the period under review, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 220% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen potato exports shrank dramatically to $X in 2021. In general, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 151% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for frozen potato exports from the Philippines, accounting for a 53% share of total exports. Moreover, frozen potato exports to Hong Kong SAR exceeded the volume sent to the second major destination, Kuwait (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+0.6% per year) and the United Arab Emirates (-6.7% per year).

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for frozen potatoes exports from the Philippines, comprising 48% of total exports. The second position in the ranking was taken by the UK ($X), with a 16% share of total exports. It was followed by Kuwait, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+5.3% per year) and Kuwait (-1.1% per year).

Export Prices by Country

In 2021, the average frozen potato export price amounted to $X per ton, rising by 11% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 101%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Kuwait ($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 Oman (+40.0%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Potato Imports

Imports into the Philippines

In 2021, the amount of frozen potatoes imported into the Philippines soared to X tons, rising by 16% compared with 2020 figures. In general, imports saw a resilient increase. The growth pace was the most rapid in 2016 with an increase of 75% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, frozen potato imports soared to $X in 2021. Overall, imports saw a prominent increase. The most prominent rate of growth was recorded in 2016 when imports increased by 87%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest frozen potato supplier to the Philippines, accounting for a 33% share of total imports. Moreover, frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was held by India (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+11.5% per year) and India (+42.4% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen potatoes to the Philippines, comprising 40% of total imports. The second position in the ranking was taken by Belgium ($X), with a 13% share of total imports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+16.0% per year) and India (+41.3% per year).

Import Prices by Country

The average frozen potato import price stood at $X per ton in 2021, rising by 8.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2018 an increase of 8.5%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were New Zealand ($X per ton) and the United States ($X per ton), while the price for Belgium ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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