Price for Pectic Substances; Pectinates and Pectates in the Philippines - 2023

Contents:

1. Price for Pectic Substances; Pectinates and Pectates in the Philippines (CIF) - 2022
2. Imports of Pectic Substances; Pectinates and Pectates in the Philippines

Price for Pectic Substances; Pectinates and Pectates in the Philippines (CIF) - 2022

The average import price for pectic substances; pectinates and pectateses stood at $13,959 per ton in 2022, which is down by -2.3% against the previous year. Overall, the import price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $19,525 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($13,959 per ton) and Denmark ($13,959 per ton), while the price for Spain ($13,958 per ton) and China ($13,959 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.8%), while the prices for the other major suppliers experienced a decline.

Imports of Pectic Substances; Pectinates and Pectates in the Philippines

In 2022, pectic substances; pectinates and pectates imports into the Philippines surged to 212 tons, jumping by 80% compared with 2021. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +17.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, pectic substances; pectinates and pectates imports surged to $3M in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +16.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Pectic Substances; Pectinates and Pectates to the Philippines in 2022:

1. Denmark (69.1 tons)
2. France (59.1 tons)
3. China (41.9 tons)
4. Spain (24.0 tons)
5. United States (9.9 tons)
6. Belgium (4.3 tons)

Source: IndexBox Market Intelligence Platform