Olives Market in the Philippines
Market Overview
The Philippine olives market was finally on the rise to reach $
in , after two years of decline. In general, consumption recorded a resilient expansion. Over the period under review, the market attained the peak level in and is likely to see steady growth in the near future.
in , after two years of decline. In general, consumption recorded a resilient expansion. Over the period under review, the market attained the peak level in and is likely to see steady growth in the near future.Consumption
In , approx. tons of olives (prepared or preserved ) were consumed in the Philippines; growing by % against . In general, consumption saw a buoyant increase. Olives consumption peaked in and is likely to see steady growth in years to come.
The size of the olives market in the Philippines rose modestly to $ in , increasing 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). Over the period under review, consumption saw strong growth. Olives consumption peaked in and is likely to continue growth in years to come.
, approx. tons of olives (prepared or preserved ) were consumed in the Philippines; growing by % against . In general, consumption saw a buoyant increase. Olives consumption peaked in and is likely to see steady growth in years to come.The size of the olives market in the Philippines rose modestly to $
in , increasing 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). Over the period under review, consumption saw strong growth. Olives consumption peaked in and is likely to continue growth in years to come.Market Forecast
Driven by increasing demand for olives (prepared or preserved ) in the Philippines, the market is expected to continue an upward consumption trend over the next eight-year period. 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 tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Olives market in the Philippines consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.
, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately ( percentage point) over the period under review.Trade Balance
The Philippines remains a net importer of olives; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, 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 tons, 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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