Philippines: Green Peas Market 2024

Green Peas Market Size in the Philippines

The Philippine green peas market totaled $X in 2022, remaining constant against the previous year. Overall, consumption recorded a noticeable setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Green Peas Production in the Philippines

In value terms, green peas production expanded to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of 303% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of peas (green) in the Philippines reduced to X tons per ha in 2022, approximately reflecting 2021. In general, the yield, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the yield increased by 2.4% against the previous year. Over the period under review, the average green peas yield attained the maximum level at X tons per ha in 2014; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of peas (green) in the Philippines amounted to X ha, remaining constant against the previous year. In general, the harvested area continues to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2016 with an increase of 15% against the previous year. The green peas harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Green Peas Exports

Exports from the Philippines

Green peas exports from the Philippines soared to X kg in 2022, rising by 28% against 2021 figures. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 1,174% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, green peas exports soared to $X in 2022. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 1,197%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X kg) was the main destination for green peas exports from the Philippines, accounting for a 87% share of total exports. Moreover, green peas exports to Canada exceeded the volume sent to the second major destination, the United States (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled +89.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Saudi Arabia (+41.4% per year).

In value terms, Canada ($X) remains the key foreign market for peas (green) exports from the Philippines, comprising 87% of total exports. The second position in the ranking was held by the United States ($X), with a 7.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +115.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (0.0% per year) and Saudi Arabia (+61.1% per year).

Export Prices by Country

The average green peas export price stood at $X per ton in 2022, growing by 13% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 57% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+109.6%), while the prices for the other major destinations experienced more modest paces of growth.

Green Peas Imports

Imports into the Philippines

In 2022, approx. X kg of peas (green) were imported into the Philippines; almost unchanged from 2021. Over the period under review, imports faced a sharp slump. The most prominent rate of growth was recorded in 2019 when imports increased by 25% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, green peas imports amounted to $X in 2022. Overall, imports saw a sharp shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 329%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Canada (X kg) constituted the largest supplier of green peas to the Philippines, accounting for a 90% share of total imports. It was followed by the United States (X kg), with a 2.1% share of total imports. Brazil (X kg) ranked third in terms of total imports with a 2.1% share.

From 2014 to 2022, the average annual growth rate of volume from Canada amounted to -32.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.3% per year) and Brazil (0.0% per year).

In value terms, Canada ($X) constituted the largest supplier of peas (green) to the Philippines, comprising 74% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by the United States, with an 8.4% share.

From 2014 to 2022, the average annual growth rate of value from Canada amounted to -23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-18.6% per year) and the United States (+8.2% per year).

Import Prices by Country

The average green peas import price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price showed a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 242% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was attained by China (+34.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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