Philippines: Pig Fat Market 2020

Pig Fat Market Size in the Philippines

The revenue of the pig fat market in the Philippines amounted to $X in 2018, picking up by X% against the previous year. In general, the total market indicated a prominent increase 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, pig fat consumption increased by +X% against 2014 indices. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Pig fat consumption peaked in 2018 and is expected to retain its growth in the near future.

Pig Fat Production in the Philippines

In value terms, pig fat production totaled $X in 2018 estimated in export prices. Over the period under review, pig fat production, however, continues to indicate an abrupt curtailment. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. In that year, pig fat production reached its peak level of $X. From 2016 to 2018, pig fat production growth failed to regain its momentum.

Pig Fat Exports

Exports from the Philippines

In 2018, the amount of pig fat exported from the Philippines stood at X tons, falling by -X% against the previous year. Over the period under review, pig fat exports continue to indicate a drastic descent. The growth pace was the most rapid in 2013 with an increase of X% year-to-year. Over the period under review, pig fat exports reached their maximum at X tons in 2014; however, from 2015 to 2018, exports remained at a lower figure.

In value terms, pig fat exports stood at $X in 2018. Over the period under review, pig fat exports continue to indicate a drastic reduction. The most prominent rate of growth was recorded in 2013 when exports increased by X% year-to-year. Over the period under review, pig fat exports attained their maximum at $X in 2014; however, from 2015 to 2018, exports stood at a somewhat lower figure.

Exports by Country

Japan (X kg) was the main destination for pig fat exports from the Philippines, accounting for a X% share of total exports. Moreover, pig fat exports to Japan exceeded the volume sent to the second major destination, South Korea (X kg), threefold.

From 2007 to 2018, the average annual rate of growth in terms of volume to Japan totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-X% per year) and the United Arab Emirates (-X% per year).

In value terms, the largest markets for pig fat exported from the Philippines were South Korea ($X), Japan ($X) and the United Arab Emirates ($X), together comprising X% of total exports.

In terms of the main countries of destination, South Korea recorded the highest growth rate of exports, over the last eleven years, while the other leaders experienced a decline.

Export Prices by Country

In 2018, the average pig fat export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the pig fat export price, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% y-o-y. Over the period under review, the average export prices for pig fat reached their maximum at $X per ton in 2007; however, from 2008 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was South Korea ($X per ton), while the average price for exports to the United Arab Emirates ($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 South Korea, while the prices for the other major destinations experienced a decline.

Pig Fat Imports

Imports into the Philippines

In 2018, the imports of pig fat into the Philippines amounted to X tons, growing by X% against the previous year. In general, pig fat imports continue to indicate strong growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked in 2018 and are likely to see steady growth in the immediate term.

In value terms, pig fat imports amounted to $X in 2018. Overall, pig fat imports continue to indicate buoyant growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, pig fat imports attained their peak figure in 2018 and are likely to continue its growth in the immediate term.

Imports by Country

Spain (X tons), Germany (X tons) and France (X tons) were the main suppliers of pig fat imports to the Philippines, together accounting for X% of total imports. The Netherlands, Belgium, Canada, Denmark and Ireland lagged somewhat behind, together accounting for a further X 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Ireland, while the other leaders experienced more modest paces of growth.

In value terms, the largest pig fat suppliers to the Philippines were Spain ($X), Germany ($X) and France ($X), with a combined X% share of total imports. These countries were followed by Belgium, the Netherlands, Canada, Ireland and Denmark, which together accounted for a further X recorded the highest rates of growth with regard to imports, in terms of the main suppliers over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average pig fat import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price indicated a strong 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, pig fat import price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. Over the period under review, the average import prices for pig fat attained their peak figure at $X per ton in 2014; however, from 2015 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was France ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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