Philippines: Frozen Salmonoids Market 2022

Frozen Salmonoids Market Size in the Philippines

For the sixth year in a row, the Philippine frozen salmonoids market recorded growth in sales value, which increased by X% to $X in 2020. Overall, consumption saw a strong expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Frozen salmonoids consumption peaked in 2020 and is expected to retain growth in years to come.

Frozen Salmonoids Production in the Philippines

In value terms, frozen salmonoids production skyrocketed to $X in 2020 estimated in export prices. Over the period under review, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of X% y-o-y. Frozen salmonoids production peaked in 2020 and is likely to see gradual growth in the near future.

Frozen Salmonoids Exports

Exports from the Philippines

For the fifth year in a row, the Philippines recorded growth in shipments abroad of frozen salmonoids, which increased by X% to X tons in 2020. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Exports peaked in 2020 and are expected to retain growth in the near future.

In value terms, frozen salmonoids exports totaled $X in 2020. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. Exports peaked in 2020 and are expected to retain growth in years to come.

Exports by Country

Australia (X tons), the U.S. (X tons) and the UK (X tons) were the main destinations of frozen salmonoids exports from the Philippines, together comprising X% of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X) remains the key foreign market for frozen salmonoids exports from the Philippines, comprising X% of total exports. The second position in the ranking was occupied by Australia ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2007 to 2020, the average annual growth rate of value to the U.S. totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+X% per year) and the UK (+X% per year).

Export Prices by Country

The average frozen salmonoids export price stood at $X per ton in 2020, waning by -X% against the previous year. In general, the export price saw a abrupt decline. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The export price peaked at $X per ton in 2007; however, from 2008 to 2020, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was the U.S. ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2007 to 2020, 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.

Frozen Salmonoids Imports

Imports into the Philippines

In 2020, purchases abroad of frozen salmonoids decreased by -X% to X tons, falling for the third year in a row after three years of growth. Overall, imports saw a pronounced setback. The most prominent rate of growth was recorded in 2015 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2020, imports failed to regain the momentum.

In value terms, frozen salmonoids imports shrank to $X in 2020. In general, imports showed a noticeable increase. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Japan (X tons) constituted the largest supplier of frozen salmonoids to the Philippines, with a X% share of total imports. Moreover, frozen salmonoids imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Indonesia (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Japan totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Indonesia (+X% per year).

In value terms, Japan ($X) constituted the largest supplier of frozen salmonoids to the Philippines, comprising X% of total imports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Japan amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+X% per year) and Germany (+X% per year).

Import Prices by Country

In 2020, the average frozen salmonoids import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price showed a strong expansion. The pace of growth appeared the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked in 2020 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Japan, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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