Olive Market in the Philippines
Market Overview
In 
, the Philippine olive market increased by % to $, rising for the second year in a row after three years of decline. Overall, consumption showed a strong increase. The growth pace was the most rapid in 2014 when the market value increased by % year-to-year. Olive consumption peaked at $ in 2015; however, from 2016 to , consumption remained at a lower figure.
, the Philippine olive market increased by % to $, rising for the second year in a row after three years of decline. Overall, consumption showed a strong increase. The growth pace was the most rapid in 2014 when the market value increased by % year-to-year. Olive consumption peaked at $ in 2015; however, from 2016 to , consumption remained at a lower figure.Consumption
In , consumption of olives increased by % to tonnes, rising for the second consecutive year after three years of decline. Over the period under review, consumption recorded a buoyant increase. The pace of growth was the most pronounced in 2014 when the consumption volume increased by % against the previous year. Over the period under review, consumption hit record highs at tonnes in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.
The revenue of the olive market in the Philippines soared to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw buoyant growth. The pace of growth was the most pronounced in 2014 when the market value increased by % y-o-y. Olive consumption peaked at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.
, consumption of olives increased by % to tonnes, rising for the second consecutive year after three years of decline. Over the period under review, consumption recorded a buoyant increase. The pace of growth was the most pronounced in 2014 when the consumption volume increased by % against the previous year. Over the period under review, consumption hit record highs at tonnes in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.The revenue of the olive market in the Philippines soared to $
in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw buoyant growth. The pace of growth was the most pronounced in 2014 when the market value increased by % y-o-y. Olive consumption peaked at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for olive in the Philippines, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tonnes by the end of .
% for the period from to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Olive market in the Philippines consists almost entirely of imported products.
Trade Balance
The Philippines remains a net importer of olive; in physical and value terms, imports consistently exceeded exports from 2012 to . In , there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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