Price for Waste, Parings and Scrap, of Plastics in the Philippines - 2023
Contents:
- Price for Waste, Parings and Scrap, of Plastics in the Philippines (FOB) - 2023
- Price for Waste, Parings and Scrap, of Plastics in the Philippines (CIF) - 2022
- Exports of Waste, Parings and Scrap, of Plastics in the Philippines
- Imports of Waste, Parings and Scrap, of Plastics in the Philippines
Price for Waste, Parings and Scrap, of Plastics in the Philippines (FOB) - 2023
In September 2023, the average export price for waste, parings and scrap, of plasticses amounted to $792 per ton, dropping by -4.4% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 when the average export price increased by 6.3% m-o-m. Over the period under review, the average export prices attained the maximum at $834 per ton in December 2022; however, from January 2023 to September 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In September 2023, the country with the highest price was the United States ($974 per ton), while the average price for exports to South Korea ($525 per ton) was amongst the lowest.
From November 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Waste, Parings and Scrap, of Plastics in the Philippines (CIF) - 2022
In 2022, the average import price for waste, parings and scrap, of plasticses amounted to $337 per ton, shrinking by -2% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average import price increased by 53% against the previous year. The import price peaked at $727 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.
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 the United States ($528 per ton), while the price for Belgium ($241 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Waste, Parings and Scrap, of Plastics in the Philippines
Exports of waste, parings and scrap, of plasticses from the Philippines fell to 92K tons in 2022, declining by -13.2% on 2021 figures. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year.
In value terms, exports of waste, parings and scrap, of plasticses dropped to $77M in 2022. Over the period under review, exports showed a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of 73%.
| Export of Waste, Parings and Scrap, of Plastics in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 52.1 | 24.7 | 51.0 | 35.7 | -11.8% |
| Taiwan (Chinese) | 19.1 | 11.0 | 18.3 | 24.3 | 8.4% |
| United States | 1.1 | 2.5 | 4.9 | 5.8 | 74.1% |
| Vietnam | 13.0 | 6.6 | 6.7 | 3.8 | -33.6% |
| Malaysia | 0.6 | 0.3 | 0.8 | 3.4 | 78.3% |
| South Korea | 2.8 | 0.8 | 0.7 | 1.0 | -29.1% |
| Others | 6.1 | 2.8 | 2.1 | 3.6 | -16.1% |
| Total | 94.6 | 48.8 | 84.6 | 77.5 | -6.4% |
Top Export Markets for Waste, Parings and Scrap, of Plastics from the Philippines in 2022:
- China (36.6K tons)
- Taiwan (Chinese) (30.8K tons)
- United States (7.5K tons)
- Vietnam (5.4K tons)
- Malaysia (5.2K tons)
- South Korea (1.4K tons)
Imports of Waste, Parings and Scrap, of Plastics in the Philippines
Imports of waste, parings and scrap, of plasticses into the Philippines declined dramatically to 7.8K tons in 2022, dropping by -40.8% on 2021. In general, imports showed a sharp downturn. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year.
In value terms, imports of waste, parings and scrap, of plasticses dropped dramatically to $2.6M in 2022. Overall, imports recorded a sharp contraction. The smallest decline of -6.8% was in 2020.
| Import of Waste, Parings and Scrap, of Plastics in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 1,184 | 885 | 2,353 | 1,337 | 4.1% |
| Australia | 48.9 | 2,318 | 785 | 374 | 97.0% |
| Taiwan (Chinese) | 130 | 216 | 200 | 269 | 27.4% |
| Thailand | 31.3 | N/A | 60.7 | 142 | 65.5% |
| United States | 3,811 | 802 | 599 | 117 | -68.7% |
| Belgium | 45.2 | 20.3 | 31.7 | 77.0 | 19.4% |
| Hong Kong SAR | 810 | 75.6 | 251 | 75.6 | -54.6% |
| Malaysia | 371 | 3,094 | 99.8 | 53.0 | -47.7% |
| Canada | 269 | 150 | 44.7 | 10.4 | -66.2% |
| South Korea | 533 | 14.5 | 2.2 | 1.7 | -85.3% |
| Georgia | 532 | 99.9 | N/A | N/A | -81.2% |
| Others | 1,065 | 551 | 121 | 180 | -44.7% |
| Total | 8,831 | 8,228 | 4,548 | 2,638 | -33.2% |
Top Suppliers of Waste, Parings and Scrap, of Plastics to the Philippines in 2022:
- Japan (4958.9 tons)
- Australia (868.0 tons)
- Taiwan (Chinese) (598.6 tons)
- Thailand (394.3 tons)
- Belgium (319.3 tons)
- United States (222.0 tons)
- Hong Kong SAR (181.1 tons)
- Malaysia (57.9 tons)
- Canada (23.4 tons)
- South Korea (3.8 tons)
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