Price for Soya Beans; Other than Seed, Whether or Not Broken in the Philippines - 2023
Contents:
- Price for Soya Beans; Other than Seed, Whether or Not Broken in the Philippines (CIF) - 2022
- Price for Soya Beans; Other than Seed, Whether or Not Broken in the Philippines (FOB) - 2022
- Imports of Soya Beans; Other than Seed, Whether or Not Broken in the Philippines
- Exports of Soya Beans; Other than Seed, Whether or Not Broken in the Philippines
Price for Soya Beans; Other than Seed, Whether or Not Broken in the Philippines (CIF) - 2022
In 2022, the average import price for soya beans; other than seed, whether or not brokens amounted to $798 per ton, with an increase of 17% against the previous year. In general, import price indicated resilient growth from 2017 to 2022: its price increased at an average annual rate of +11.2% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for soya beans; other than seed, whether or not brokens increased by +78.9% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 43% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Argentina ($798 per ton) and the United States ($798 per ton), while the price for Canada ($798 per ton) and Brazil ($798 per ton) were amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Soya Beans; Other than Seed, Whether or Not Broken in the Philippines (FOB) - 2022
In 2022, the average export price for soya beans; other than seed, whether or not brokens amounted to $636 per ton, with an increase of 9.4% against the previous year. Overall, the export price, however, saw a dramatic decrease. The most prominent rate of growth was recorded in 2021 an increase of 57%. The export price peaked at $3,168 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($636 per ton), while the average price for exports to the Netherlands stood at $636 per ton.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+261.4%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Soya Beans; Other than Seed, Whether or Not Broken in the Philippines
In 2022, the amount of soya beans; other than seed, whether or not brokens imported into the Philippines shrank to 146K tons, declining by -2.6% against the year before. In general, imports saw a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 4.2% against the previous year.
In value terms, imports of soya beans; other than seed, whether or not brokens expanded notably to $117M in 2022. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +13.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 49% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Soya Beans; Other than Seed, Whether or Not Broken in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 72.2 | 63.7 | 87.4 | 76.2 | 1.8% |
| Argentina | N/A | N/A | N/A | 16.0 | 0% |
| Brazil | N/A | N/A | 7.7 | 15.0 | 94.8% |
| Canada | 6.6 | 4.4 | 6.9 | 8.7 | 9.6% |
| Others | 0.6 | 0.6 | 0.7 | 0.7 | 5.3% |
| Total | 79.3 | 68.7 | 103 | 117 | 13.8% |
Top Suppliers of Soya Beans; Other than Seed, Whether or Not Broken to the Philippines in 2022:
- United States (95.5K tons)
- Argentina (20.1K tons)
- Brazil (18.8K tons)
- Canada (10.9K tons)
Exports of Soya Beans; Other than Seed, Whether or Not Broken in the Philippines
In 2022, the amount of soya beans; other than seed, whether or not brokens exported from the Philippines skyrocketed to 4 tons, picking up by 625% against 2021. Over the period under review, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of soya beans; other than seed, whether or not brokens soared to $2.6K in 2022. In general, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Soya Beans; Other than Seed, Whether or Not Broken in the Philippines (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
| United States | N/A | N/A | 1,870 | 0% | |
| Netherlands | N/A | 3.0 | 700 | 23233.3% | |
| Germany | 146 | N/A | N/A | 0% | |
| Saudi Arabia | 803 | 320 | N/A | -60.1% | |
| Others | 20.0 | 1.0 | N/A | -95.0% | |
| Total | 969 | 324 | 2,570 | 62.9% | |
Top Export Markets for Soya Beans; Other than Seed, Whether or Not Broken from the Philippines in 2022:
- United States (2.9 tons)
- Netherlands (1.1 tons)
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