Maize flour and cereals market in the Philippines

Earlier Report Observations

The market for maize flour and cereals in the Philippines expanded from 1 983 thousand tons in 2018 to 2 261 thousand tons in 2023. This growth was not linear, with a notable surge in 2020 when consumption jumped by 19% to 2 443 thousand tons, followed by a sharp contraction the next year.

The decline in market volume to 2 014 thousand tons in 2021 coincided with challenges in the domestic corn industry. High international prices for yellow corn and a lack of drying capacity during wet harvests reduced farmers' planting incentives, creating supply volatility that affected the availability of raw materials for milling.

Market volume recovered to 2 175 thousand tons in 2022 and reached 2 261 thousand tons in 2023. This recovery occurred amid broader inflationary pressures on cereals and global maize price influences, such as the Black Sea Grain Initiative and harvest outcomes in South America, which affected import costs and domestic pricing.

Production maize flour and cereals in the Philippines

In kind, 2017-2020, K t

From 2017 to 2020, the Philippines held the 16th position globally in maize flour and cereals production.

Top producers of maize flour and cereals, 2017-2020

World map of production of maize flour and cereals, 2017-2020

Maize flour and cereals production in the Philippines increased for the third consecutive year. In 2020, the country produced 2 414 thousand tonnes, marking a 19.6% rise compared to the previous year. Between 2017 and 2020, production grew by 51.2%, which translates to an annualized rate of 14.8%.

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

Exports maize flour and cereals from the Philippines

Exports in kind, t

The data shows irregular changes, indicating a volatile market environment. Exports bottomed in 2019 at 72 tonnes and peaked in 2020 at 585 tonnes, representing an 8.2-fold difference. In 2020, exports surged by 717.1% compared to the previous year. The largest decline was recorded in 2018 at 48.5%.

Annual dynamics of product's exports from the Philippines in kind, 2017-2020, t

From 2017 to 2020, Qatar, the United Arab Emirates, and the United States consistently led the country structure of exports in kind. Qatar accounted for 34.8% of exports, the United Arab Emirates for 15.9%, and the United States for 15.8%, together making up 66.5% of total flows.

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

World map of product's exports from the Philippines in kind, 2017-2020

Exports in value, K $ US

The market exhibited volatility over the observed period. The minimum value was recorded in 2019 at 132 thousand US dollars, while the maximum was in 2020 at 560 thousand US dollars, showing a 4.2-fold variation. In 2020, exports increased sharply by 324.6% from 2019. The largest decline occurred in 2018 at 26.5%.

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

In 2017–2020, Qatar, the United Arab Emirates, and the United States were the largest buyers of maize flour and cereals from the Philippines in value terms. Qatar contributed 35.1% of exports, the United Arab Emirates 19.7%, and the United States 17.0%, together forming 71.8% of total exports.

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

World map of product's exports from the Philippines in value, 2017-2020

Imports maize flour and cereals to the Philippines

Imports in kind, t

Cross-border shipments of maize flour and cereals to the Philippines increased for the third consecutive year. In 2020, imports totaled 29 118 tonnes, which is 3.5% higher than in 2019. Over the period 2017-2020, imports rose by 28.9%, with a compound annual growth rate of 8.8%.

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

From 2017 to 2020, Thailand, Vietnam, and France accounted for the largest share of imports in kind. Thailand represented 61.0% of imports, Vietnam 15.6%, and France 7.3%, together comprising 83.9% of total flows.

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

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

Imports in value, K $ US

Foreign maize flour and cereals supplies to the Philippines increased for the third consecutive year. In 2020, the Philippines imported a total of 25 810 thousand US dollars, reflecting a strong rise of 20.3% from the previous year. Between 2017 and 2020, imports grew by 60.3%, equating to an annualized rate of 17.0%.

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

Over 2017–2020, Thailand and Vietnam were the dominant destinations for imports in value terms of maize flour and cereals to the Philippines, jointly accounting for 82.4% of total flows, while the remaining volume was distributed among smaller markets.

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

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