Philippines: Non-Wheat Flour Market 2024

Non-Wheat Flour Market Size in the Philippines

After two years of growth, the Philippine non-wheat flour market decreased by -2.1% to $X in 2021. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 7.2%. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Non-Wheat Flour Production in the Philippines

In value terms, non-wheat flour production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a slight downturn. The growth pace was the most rapid in 2014 when the production volume increased by 5%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Non-Wheat Flour Exports

Exports from the Philippines

After two years of growth, overseas shipments of non-wheat flours decreased by -25.1% to X tons in 2021. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 5,004% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, non-wheat flour exports fell dramatically to $X in 2021. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,994%. Over the period under review, the exports hit record highs at $X in 2020, and then dropped notably in the following year.

Exports by Country

The United States (X tons), Qatar (X tons) and Canada (X tons) were the main destinations of non-wheat flour exports from the Philippines, with a combined 72% share of total exports.

From 2014 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +285.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-wheat flour exported from the Philippines were the United States ($X), Qatar ($X) and Canada ($X), together accounting for 66% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +207.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average non-wheat flour export price amounted to $X per ton, which is down by -11.7% against the previous year. Overall, the export price saw a abrupt downturn. The growth pace was the most rapid in 2018 when the average export price increased by 31%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Wheat Flour Imports

Imports into the Philippines

In 2021, after four years of growth, there was significant decline in overseas purchases of non-wheat flours, when their volume decreased by -24.4% to X tons. Overall, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 636%. Imports peaked at X tons in 2020, and then fell significantly in the following year.

In value terms, non-wheat flour imports contracted dramatically to $X in 2021. In general, imports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 803%. Over the period under review, imports attained the maximum at $X in 2020, and then reduced markedly in the following year.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of non-wheat flour to the Philippines, accounting for a 56% share of total imports. Moreover, non-wheat flour imports from Thailand exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand amounted to +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+73.2% per year) and the United States (+23.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of non-wheat flours to the Philippines, comprising 61% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 15% share of total imports. It was followed by the United States, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand amounted to +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+98.6% per year) and the United States (+27.4% per year).

Import Prices by Country

The average non-wheat flour import price stood at $X per ton in 2021, increasing by 9.8% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, non-wheat flour import price increased by +54.7% against 2016 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 37%. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Vietnam ($X per ton) and the UK ($X per ton), while the price for France ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+25.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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