Oil seeds and oleaginous fruits market in the Philippines

Earlier Report Observations

From 2018 to 2020, the market volume for oil seeds and oleaginous fruits in the Philippines gradually declined from 12,406 tonnes to 12,241 tonnes. This period began with a supportive environment highlighted by population growth, crop diversification, and increased use of peppers and cucumbers for processing, which enhanced market potential for seed companies. However, the global COVID-19 pandemic in 2020 disrupted supply chains, contributing to the market contraction.

The market decreased further to 11,990 tonnes in 2021, a year that saw increased export value of fats and oils to the EU reaching $667.62 million. A modest recovery followed in 2022, with the market volume rising to 12,039 tonnes, coinciding with a 17.3% annual growth in total agricultural trade during the third quarter.

Market volume continued to expand, reaching 12,222 tonnes in 2023. By 2024, evolving consumer preferences towards balanced and healthy diets became prominent, with older Filipinos prioritizing high-fiber, low-sugar foods and younger consumers seeking to reduce fatty intake while maintaining taste, trends that influence demand for oleaginous products.

Production oil seeds and oleaginous fruits in the Philippines

In kind, 2017-2020, t

Top producers of oil seeds and oleaginous fruits, 2017-2020

World map of production of oil seeds and oleaginous fruits, 2017-2020

Oil seeds and oleaginous fruits production in the Philippines has increased for the third consecutive year. In 2020, the country produced 12 008 tons, marking a 1.2% rise compared to the previous year. Looking at the period from 2017 to 2020, overall production grew by 3.6%, which translates to an average annual increase of 1.2%.

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

Exports oil seeds and oleaginous fruits from the Philippines

Exports in kind, t

The export market for oil seeds and oleaginous fruits from the Philippines showed an unstable trend during this period. In 2018, exports hit their lowest point at 0.7 tons, reflecting a 97.0% decline. The following year, in 2019, exports surged to 15.9 tons, representing a sharp increase of 2,261.5% over the previous year. The highest export volume was recorded in 2017, creating a 33-fold gap compared to the low in 2018.

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

From 2017 to 2020, China and Malaysia accounted for the majority of the Philippines' oil seeds and oleaginous fruits exports in volume, while other markets played a less significant role.

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

Export values for oil seeds and oleaginous fruits from the Philippines were volatile during these years. In 2018, the minimum value was recorded at 4 000 US dollars, with a 70.2% decline. By 2019, exports jumped to 99 000 US dollars, indicating a steep advance of 2,340.5% over the previous year. The peak in 2019 and the trough in 2018 resulted in a 24-fold change in export values.

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

Over the 2017–2020 period, Malaysia was the leading buyer of oil seeds and oleaginous fruits from the Philippines in value terms, accounting for 84.9% of total exports. The remaining share was distributed among various other countries.

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 oil seeds and oleaginous fruits to the Philippines

Imports in kind, t

Imports of oil seeds and oleaginous fruits into the Philippines declined for the second consecutive year. In 2020, imports amounted to 233.4 tons, which is 50.3% lower year-over-year. The maximum import volume was recorded in 2018 at 671.7 tons, with a 5.9% increase that year. From 2017 to 2020, total imports decreased by 63.2%, corresponding to a compound annual growth rate of -28.3%.

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

Between 2017 and 2020, China was the dominant supplier of oil seeds and oleaginous fruits to the Philippines in volume, making up 71.7% of total imports. Other countries shared the remaining volume.

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 supplies of oil seeds and oleaginous fruits to the Philippines declined for the second year in a row. In 2020, the Philippines imported 591 000 US dollars worth of these products, showing a decrease of 35.9% from the previous year. The maximum value was recorded in 2018 at 1 160 000 US dollars, with a 6.4% increase that year. Over the 2017-2020 period, imports decreased by 45.8%, with a compound annual growth rate of -18.5%.

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

Throughout 2017–2020, China, Peru, and the United States were the main sources of oil seeds and oleaginous fruits imports into the Philippines in value terms. China accounted for 65.0% of imports, Peru for 9.2%, and the United States for 8.6%, collectively representing 82.8% of total import flows.

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

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