Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines - 2023
Contents:
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines (CIF) - 2023
- Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines (FOB) - 2022
- Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines
- Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines (CIF) - 2023
In November 2023, the average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $787 per ton, with a decrease of -5.6% against the previous month. Over the period under review, the import price, however, continues to indicate a mild expansion. The pace of growth appeared the most rapid in October 2023 an increase of 9.9% m-o-m. As a result, import price attained the peak level of $834 per ton, and then contracted in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Indonesia ($6,682 per ton), while the price for Thailand ($770 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+44.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines (FOB) - 2022
In 2022, the average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $965 per ton, reducing by -32.9% against the previous year. Overall, the export price, however, posted perceptible growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 192% against the previous year. As a result, the export price reached the peak level of $2,023 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($1,897 per ton), while the average price for exports to Kuwait ($376 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 Japan (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines
In 2022, the amount of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose imported into the Philippines surged to 386K tons, rising by 151% on the year before. In general, imports posted a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose skyrocketed to $266M in 2022. Overall, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 120 | 58.9 | 83.8 | 250 | 27.7% |
| Malaysia | 1.3 | 4.8 | 1.4 | 9.8 | 96.1% |
| Others | 6.6 | 8.1 | 1.9 | 6.0 | -3.1% |
| Total | 128 | 71.8 | 87.0 | 266 | 27.6% |
Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to the Philippines in 2022:
- Thailand (368.7K tons)
- Malaysia (15.1K tons)
Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines
In 2022, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose from the Philippines shrank markedly to 50 tons, waning by -32.5% on the previous year. Overall, exports continue to indicate a dramatic setback. The pace of growth appeared the most rapid in 2021 when exports increased by 91%.
In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose reduced dramatically to $49K in 2022. Over the period under review, exports showed a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 122%. As a result, the exports reached the peak of $108K, and then contracted remarkably in the following year.
| Export of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 54.3 | 37.6 | 89.8 | 31.9 | -16.2% |
| United States | 0.5 | N/A | 2.0 | 5.6 | 123.7% |
| Kuwait | N/A | 0.7 | 0.1 | 4.6 | 156.3% |
| Jordan | N/A | N/A | 1.4 | 2.6 | 85.7% |
| Hong Kong SAR | 0.6 | 0.1 | 0.5 | 2.4 | 58.7% |
| Bahrain | N/A | 0.9 | 0.4 | 1.1 | 10.6% |
| Qatar | 7.9 | 7.4 | 2.3 | 0.5 | -60.1% |
| Japan | 14.1 | N/A | N/A | N/A | 0% |
| Taiwan (Chinese) | N/A | N/A | 10.3 | N/A | 0% |
| Others | 8.1 | 1.7 | 0.8 | 0.1 | -76.9% |
| Total | 85.4 | 48.4 | 108 | 48.7 | -17.1% |
Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from the Philippines in 2022:
- United Arab Emirates (28.0 tons)
- Kuwait (12.2 tons)
- United States (3.0 tons)
- Jordan (2.6 tons)
- Bahrain (1.8 tons)
- Hong Kong SAR (1.5 tons)
- Qatar (1.3 tons)
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