Philippines: Potato Market 2024

Potato Market Size in the Philippines

After five years of growth, the Philippine potato market decreased by -0.6% to $X in 2021. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Potato Production in the Philippines

In value terms, potato production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable descent. The pace of growth was the most pronounced in 2013 when the production volume increased by 32%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

The average yield of potatoes in the Philippines fell slightly to X tons per ha in 2021, approximately equating the year before. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the yield increased by 2.7% against the previous year. Over the period under review, the average potato yield reached the maximum level at X tons per ha in 2020, and then declined slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of potatoes were harvested in the Philippines; increasing by 2.1% compared with 2020 figures. Over the period under review, the harvested area, however, showed a slight decrease. Over the period under review, the harvested area dedicated to potato production reached the peak figure at X ha in 2012; however, from 2013 to 2021, the harvested area failed to regain momentum.

Potato Exports

Exports from the Philippines

In 2021, overseas shipments of potatoes increased by 141% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2016 with an increase of 2,511% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, potato exports surged to $X in 2021. In general, exports, however, faced a significant decrease. The pace of growth appeared the most rapid in 2016 with an increase of 2,870% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for potato exports from the Philippines, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates stood at +84.8%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for potato exports from the Philippines.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled +74.2%.

Export Prices by Country

In 2021, the average potato export price amounted to $X per ton, reducing by -8% against the previous year. Overall, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 37%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for Bahrain amounted to -2.2% per year.

Potato Imports

Imports into the Philippines

In 2021, overseas purchases of potatoes decreased by -2.2% to X tons for the first time since 2013, thus ending a seven-year rising trend. Over the period under review, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2015 when imports increased by 138% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then fell slightly in the following year.

In value terms, potato imports rose significantly to $X in 2021. Overall, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 224%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

The United States (X tons), Australia (X tons) and Germany (X tons) were the main suppliers of potato imports to the Philippines, together accounting for 98% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +203.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest potato suppliers to the Philippines were the United States ($X), Australia ($X) and Germany ($X), with a combined 97% share of total imports.

Australia, with a CAGR of +202.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average potato import price amounted to $X per ton, increasing by 8.1% against the previous year. In general, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, potato import price increased by +77.4% against 2013 indices. The growth pace was the most rapid in 2015 when the average import price increased by 36% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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