Market research

Corn oil and fractions market in the Philippines

$Corn oil and fractions market in the Philippines$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The market volume for corn oil in the Philippines expanded from 9 324 tons in 2018 to 15 466 tons in 2023, representing a 66% increase over the period. Growth was strongest through 2020, peaking at 14 513 tons, before a minor contraction to 14 160 tons in 2021. The market recovered to 15 479 tons in 2022 and stabilized near that level in 2023, supported by rising domestic production which reached 12 404 tons.

By 2024, new policy measures and consumer trends began influencing the market framework. The Department of Energy mandated a nationwide 3% coco methyl ester blend in diesel fuel starting October 2024 to promote biofuels, while the government extended reduced tariffs on maize until the end of the year to ease raw material costs. Simultaneously, growing health consciousness increased consumer preference for cooking oils like corn oil due to its high unsaturated fat and vitamin E content.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in the Philippines
  1. 5.1.1. Annual dynamics of production in the Philippines in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in the Philippines in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to the Philippines in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's imports in kind to the Philippines by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to the Philippines in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to the Philippines by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's imports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's imports to the Philippines, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's imports to the Philippines by countries, 2018-2024, $ US/t
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to the Philippines in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's imports in kind to the Philippines by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to the Philippines in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to the Philippines by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's imports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's imports to the Philippines, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's imports to the Philippines by countries, 2018-2024, $ US/t
7. Trade balance
1. 7.1. Trade balance (Direct Data)
  1. 7.1.1. In kind, t
  2. 7.1.2. In value, K $ US
2. 7.2. Trade balance (Mirror Data)
  1. 7.2.1. In kind, t
  2. 7.2.2. In value, K $ US
8. Top buying and selling countries, 2018-2024
1. 8.1. Direct Data
  1. 8.1.1. Import in Value by Countries-buyers
  2. 8.1.2. Export in Value by Countries-suppliers
2. 8.2. Mirror Data
  1. 8.2.1. Import in Value by Countries-buyers
  2. 8.2.2. Export in Value by Countries-suppliers

Production corn oil and fractions in the Philippines

In kind, 2017-2020, t

Globally, the Philippines ranked as the 28th largest producer of corn oil and fractions between 2017 and 2020.

Top producers of corn oil and fractions, 2017-2020

Source: SHEV.io

World map of production of corn oil and fractions, 2017-2020

Source: SHEV.io

Corn oil and fractions production in the Philippines grew for the third year in a row. In 2020, the country produced 13 383 tonnes, marking a 19.7% increase from the previous year. From 2017 to 2020, overall production surged by 82.5%, with an average annual growth rate of 22.2%.

Annual dynamics of production in the Philippines in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	0.3%	52.2%	19.7%	22.2%

Source: SHEV.io

Exports corn oil and fractions from the Philippines

According to market research, the Philippines did not export any corn oil and fractions from 2017 through 2020.

Imports corn oil and fractions to the Philippines

Imports in kind, t

Imports of corn oil and fractions into the Philippines fell for the third consecutive year. In 2020, imports totaled 1 131 tonnes, a sharp decline of 41.7% compared to 2019. Between 2017 and 2020, imports dropped by 50.7%, translating to an annualized decrease of 21.0%.

Annual dynamics of product's imports to the Philippines in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(13.9%)	(1.7%)	(41.7%)	(21.0%)

Source: SHEV.io

From 2017 to 2020, three key markets—Malaysia, Singapore, and South Korea—collectively made up 86.9% of the Philippines' total corn oil and fractions imports by volume.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to the Philippines in kind, 2017-2020

Source: SHEV.io

Imports in value, K $ US

The value of corn oil and fractions imports to the Philippines decreased for the third year in a row. In 2020, imports were valued at 1 579 thousand US dollars, down 35.1% from 2019. Over the 2017-2020 period, import value fell by 50.1%, with a compound annual growth rate of -20.7%.

Annual dynamics of product's imports to the Philippines in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(8.3%)	(16.1%)	(35.1%)	(20.7%)

Source: SHEV.io

Between 2017 and 2020, Malaysia and Singapore were the primary sources for imports in value terms, together accounting for 80.5% of total imports, while the remaining share was distributed among other markets.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to the Philippines in value, 2017-2020

Source: SHEV.io