Price for Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines - 2023
Contents:
- Price for Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines (CIF) - 2022
- Price for Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines (FOB) - 2023
- Imports of Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines
- Exports of Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines
Price for Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines (CIF) - 2022
In 2022, the average import price for mollusc preparations; cuttle fish and squid, prepared or preserveds amounted to $2,249 per ton, increasing by 11% against the previous year. In general, the import price continues to indicate a noticeable increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by 77% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2017 to 2022, the rate of growth in terms of prices for China amounted to +4.7% per year.
Price for Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines (FOB) - 2023
The average export price for mollusc preparations; cuttle fish and squid, prepared or preserveds stood at $4,732 per ton in July 2023, shrinking by -23.3% against the previous month. Over the period under review, the export price, however, showed a measured expansion. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 156% against the previous month. As a result, the export price attained the peak level of $9,131 per ton. From February 2023 to July 2023, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In July 2023, the country with the highest price was Italy ($5,406 per ton), while the average price for exports to Qatar ($3,189 per ton) was amongst the lowest.
From December 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines
In 2022, approx. 1.8K tons of mollusc preparations; cuttle fish and squid, prepared or preserveds were imported into the Philippines; jumping by 222% on 2021 figures. Over the period under review, imports showed a significant increase. The growth pace was the most rapid in 2020 with an increase of 371%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.
In value terms, imports of mollusc preparations; cuttle fish and squid, prepared or preserveds surged to $4.1M in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 326%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in years to come.
| Import of Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.3 | 1.2 | 1.1 | 4.1 | 139.1% |
| Others | N/A | N/A | N/A | 0.1 | 0% |
| Total | 0.3 | 1.2 | 1.1 | 4.1 | 139.1% |
Top Suppliers of Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved to the Philippines in 2022:
- China (1791.0 tons)
Exports of Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines
Exports of mollusc preparations; cuttle fish and squid, prepared or preserveds from the Philippines shrank rapidly to 151 tons in 2022, with a decrease of -25.7% on the year before. Overall, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 40%. As a result, the exports reached the peak of 203 tons, and then contracted remarkably in the following year.
In value terms, exports of mollusc preparations; cuttle fish and squid, prepared or preserveds contracted significantly to $478K in 2022. Over the period under review, exports saw a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of 51% against the previous year. As a result, the exports reached the peak of $673K, and then declined significantly in the following year.
| Export of Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 239 | 205 | 348 | 155 | -13.4% |
| Canada | 71.7 | 46.1 | 107 | 97.6 | 10.8% |
| Israel | N/A | N/A | N/A | 46.0 | 0% |
| Kuwait | 0.2 | 9.3 | 15.6 | 33.7 | 452.3% |
| Australia | 46.4 | 57.0 | 53.7 | 29.5 | -14.0% |
| United Arab Emirates | 68.6 | 64.7 | 30.4 | 27.2 | -26.5% |
| New Zealand | 8.4 | 6.8 | 46.3 | 26.1 | 45.9% |
| Taiwan (Chinese) | 33.5 | 8.0 | 33.1 | 21.6 | -13.6% |
| Hong Kong SAR | 44.2 | 39.9 | 6.8 | 19.1 | -24.4% |
| Others | 57.4 | 9.5 | 32.4 | 21.3 | -28.1% |
| Total | 569 | 447 | 673 | 478 | -5.6% |
Top Export Markets for Mollusc Preparations; Cuttle Fish and Squid, Prepared or Preserved from the Philippines in 2022:
- United States (48.7 tons)
- Canada (30.4 tons)
- Taiwan (Chinese) (22.0 tons)
- United Arab Emirates (10.6 tons)
- Israel (9.8 tons)
- Australia (8.6 tons)
- Kuwait (7.2 tons)
- Hong Kong SAR (6.5 tons)
- New Zealand (3.5 tons)
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