Philippines: Milled Rice Market 2020

Milled Rice Market Size in the Philippines

The revenue of the milled rice market in the Philippines amounted to $X in 2018, increasing by X% against the previous year. In general, the total market indicated a resilient expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, milled rice consumption increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2012 when the market value increased by X% year-to-year. Over the period under review, the milled rice market attained its peak figure level in 2018 and is expected to retain its growth in the immediate term.

Milled Rice Production in the Philippines

In value terms, milled rice production stood at $X in 2018 estimated in export prices. In general, milled rice production continues to indicate a buoyant increase. The growth pace was the most rapid in 2013 when production volume increased by X% year-to-year. Milled rice production peaked in 2018 and is likely to see steady growth in the near future.

Average yield of milled rice in the Philippines amounted to X ton per ha in 2018, approximately equating the previous year. Over the period under review, the milled rice yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2012 with an increase of X% against the previous year. Milled rice yield peaked in 2018 and is likely to continue its growth in the near future. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2018, the milled rice harvested area in the Philippines totaled X ha, flattening at the previous year. The harvested area increased at an average annual rate of +X% from 2007 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when harvested area increased by X% year-to-year. Milled rice harvested area peaked in 2018 and is expected to retain its growth in the immediate term.

Milled Rice Exports

Exports from the Philippines

In 2018, the exports of milled rice from the Philippines stood at X tons, coming down by -X% against the previous year. Over the period under review, milled rice exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. In that year, milled rice exports reached their peak of X tons, and then declined slightly in the following year.

In value terms, milled rice exports totaled $X in 2018. Over the period under review, milled rice exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. In that year, milled rice exports attained their peak of $X, and then declined slightly in the following year.

Exports by Country

Vietnam (X tons) was the main destination for milled rice exports from the Philippines, with a X% share of total exports. Moreover, milled rice exports to Vietnam exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), sixfold. Singapore (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume to Vietnam stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+X% per year) and Singapore (-X% per year).

In value terms, Vietnam ($X) remains the key foreign market for milled rice exports from the Philippines, comprising X% of total milled rice exports. The second position in the ranking was occupied by Canada ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2007 to 2018, the average annual growth rate of value to Vietnam amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+X% per year) and the United Arab Emirates (+X% per year).

Export Prices by Country

The average milled rice export price stood at $X per ton in 2018, jumping by X% against the previous year. Over the period under review, the export price indicated a resilient expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, milled rice export price increased by +X% against 2010 indices. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The export price peaked in 2018 and is expected to retain its growth in the near future.

Prices varied noticeably by the country of destination; the country with the highest price was Canada ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Canada, while the prices for the other major destinations experienced more modest paces of growth.

Milled Rice Imports

Imports into the Philippines

Milled rice imports into the Philippines amounted to X tons in 2018, growing by X% against the previous year. Over the period under review, milled rice imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, milled rice imports reached their maximum at X tons in 2008; however, from 2009 to 2018, imports failed to regain their momentum.

In value terms, milled rice imports amounted to $X in 2018. Overall, milled rice imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when imports increased by X% against the previous year. In that year, milled rice imports reached their peak of $X. From 2009 to 2018, the growth of milled rice imports remained at a somewhat lower figure.

Imports by Country

In 2018, Vietnam (X tons) constituted the largest milled rice supplier to the Philippines, accounting for a X% share of total imports. Moreover, milled rice imports from Vietnam exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was occupied by Pakistan (X tons), with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume from Vietnam stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and Pakistan (+X% per year).

In value terms, Vietnam ($X) constituted the largest supplier of milled rice to the Philippines, comprising X% of total milled rice imports. The second position in the ranking was occupied by Thailand ($X), with a X% share of total imports. It was followed by Pakistan, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value from Vietnam was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+X% per year) and Pakistan (+X% per year).

Import Prices by Country

In 2018, the average milled rice import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the milled rice import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% against the previous year. In that year, the average import prices for milled rice attained their peak level of $X per ton. From 2009 to 2018, the growth in terms of the average import prices for milled rice remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2018, the countries with the highest prices were China ($X per ton) and Vietnam ($X per ton), while the price for Pakistan ($X per ton) and Myanmar ($X per ton) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Vietnam, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform