Philippines: Vegetable Product Market 2025

Vegetable Product Market Size in the Philippines

The Philippine vegetable product market expanded slightly to $X in 2022, growing by 4.5% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Vegetable product consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Vegetable Product Production in the Philippines

In value terms, vegetable product production rose rapidly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 32%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

The average yield of vegetable products in the Philippines contracted to X tons per ha in 2022, leveling off at the previous year's figure. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 23%. As a result, the yield attained the peak level of X tons per ha. From 2018 to 2022, the growth of the average vegetable product 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 total area harvested in terms of vegetable products production in the Philippines declined to X ha, shrinking by -2.5% compared with the previous year's figure. Overall, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 6.7%. Over the period under review, the harvested area dedicated to vegetable product production attained the peak figure at X ha in 2018; however, from 2019 to 2022, the harvested area remained at a lower figure.

Vegetable Product Exports

Exports from the Philippines

In 2022, vegetable product exports from the Philippines dropped sharply to X tons, which is down by -24.3% on the previous year's figure. Over the period under review, exports continue to indicate a perceptible setback. The pace of growth appeared the most rapid in 2013 with an increase of 1,321%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, vegetable product exports reduced markedly to $X in 2022. In general, exports, however, recorded a measured increase. The pace of growth appeared the most rapid in 2013 when exports increased by 888%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X tons), Japan (X tons) and the United States (X tons) were the main destinations of vegetable product exports from the Philippines, together accounting for 61% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +171.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vegetable product exported from the Philippines were Italy ($X), Japan ($X) and the United States ($X), with a combined 67% share of total exports.

Italy, with a CAGR of +163.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vegetable product export price stood at $X per ton in 2022, shrinking by -16.6% against the previous year. Over the period under review, the export price, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2014 an increase of 239% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then declined markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Hong Kong SAR (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Product Imports

Imports into the Philippines

In 2022, supplies from abroad of vegetable products decreased by -22.9% to X tons, falling for the third consecutive year after three years of growth. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 74%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable product imports declined to $X in 2022. Over the period under review, imports, however, saw a notable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 104%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of vegetable product to the Philippines, with a approx. 99% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -14.8%.

In value terms, China ($X) constituted the largest supplier of vegetable products to the Philippines.

From 2012 to 2022, the average annual growth rate of value from China amounted to +3.3%.

Import Prices by Country

In 2022, the average vegetable product import price amounted to $X per ton, rising by 13% against the previous year. Overall, the import price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2020 an increase of 67% against the previous year. The import price peaked in 2022 and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +21.3% per year.

Source: IndexBox Platform

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