Philippines: Spice Market 2025

Spice Market Size in the Philippines

In 2022, the Philippine spice market decreased by X% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Spice Production in the Philippines

In value terms, spice production expanded notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of X%. Spice production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of spices in the Philippines declined to X tons per ha, approximately reflecting 2021. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2014 to 2022, the growth of the average spice yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the spice harvested area in the Philippines dropped to X ha, stabilizing at 2021. Overall, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the harvested area increased by X% against the previous year. The spice harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Spice Exports

Exports from the Philippines

In 2022, overseas shipments of spices decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, saw a modest increase. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, spice exports contracted remarkably to $X in 2022. Overall, exports, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for spice exports from the Philippines, with a X% share of total exports. Moreover, spice exports to Thailand exceeded the volume sent to the second major destination, Pakistan (X tons), sevenfold. Papua New Guinea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (X% per year) and Papua New Guinea (X% per year).

In value terms, Thailand ($X) remains the key foreign market for spices exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Pakistan ($X), with a X% share of total exports. It was followed by Papua New Guinea, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Thailand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (X% per year) and Papua New Guinea (X% per year).

Export Prices by Country

In 2022, the average spice export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to India ($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 South Africa (X%), while the prices for the other major destinations experienced a decline.

Spice Imports

Imports into the Philippines

In 2022, overseas purchases of spices decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, spice imports fell modestly to $X in 2022. Over the period under review, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced modestly in the following year.

Imports by Country

Vietnam (X tons), China (X tons) and India (X tons) were the main suppliers of spice imports to the Philippines, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constituted the largest supplier of spices to the Philippines, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average spice import price amounted to $X per ton, rising by X% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spice import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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