Prepared or preserved groundnuts market in the Philippines

Earlier Report Observations

The market for prepared or preserved groundnuts in the Philippines started from a solid base in 2018, supported by reported growth in demand for convenient and nutritious Philippine-made processed snacks, reflecting broader health and wellness trends. This foundation was followed by a significant contraction in total market volume, which fell to around 51 000 t by 2020.

A robust recovery ensued, with market volume climbing to nearly 59 000 t in 2021 and then surging to over 76 000 t in 2022. This sharp increase coincided with the Russia-Ukraine conflict's impact on related agricultural commodity markets and the enduring consumer preference for convenient, ready-to-consume food formats.

In 2023, the market volume adjusted to approximately 69 000 t. During this period, food industry trends emphasized product variety and innovation to cater to evolving consumer tastes, which continued to shape the market landscape.

Production prepared or preserved groundnuts in the Philippines

In kind, 2017-2020, t

From 2017 to 2020, the Philippines ranked as the world's sixth-largest producer of prepared or preserved groundnuts.

Top producers of prepared or preserved groundnuts, 2017-2020

World map of production of prepared or preserved groundnuts, 2017-2020

The Philippines experienced a decline in prepared or preserved groundnuts production for the third year in a row. In 2020, production totaled 45 625 tonnes, showing a significant year-on-year drop of 18.3%. Over the 2017-2020 period, production fell by 22.2%, which translates to an annualized decrease of 8.0%.

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

Exports prepared or preserved groundnuts from the Philippines

Exports in kind, t

Foreign supplies of prepared or preserved groundnuts from the Philippines increased for the second consecutive year. In 2020, exports reached 539 tonnes, marking a strong uptick of 14.9% compared to 2019. From 2017 to 2020, exports grew by 26.9%, with a compound annual growth rate of 8.3%. The lowest export volume was recorded in 2018 at 404 tonnes, which also saw the largest decline of 4.8%. In contrast, the largest increase occurred in 2019, with a 16.0% rise.

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

Between 2017 and 2020, prepared or preserved groundnuts from the Philippines were exported to a diverse range of markets. The top three destinations—Saudi Arabia (14.9% of exports in kind), the United Arab Emirates (13.3%), and Canada (12.7%)—collectively accounted for 40.9% of total exports in kind. The remaining 59.1% was distributed among numerous smaller markets.

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

Prepared or preserved groundnuts deliveries from the Philippines increased for the second year in a row. In 2020, exports were valued at 1 383 thousand US dollars, representing a 10.9% increase compared to 2019. Over the 2017-2020 period, exports rose by 27.7%, with a compound annual growth rate of 8.5%. The lowest value was recorded in 2018 at 803 thousand US dollars, which also saw the largest decline of 25.9%. The largest increase occurred in 2019, with a 55.4% rise.

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

The country composition of exports in value terms from 2017 to 2020 was highly dispersed. Canada (19.4% of exports in value terms), the United Arab Emirates (13.7%), and Kuwait (10.9%) together made up just 44.0% of total flows. The remaining 56.0% was spread across a wide array of other destinations.

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 prepared or preserved groundnuts to the Philippines

Imports in kind, t

In 2020, the Philippines imported 6 195 tonnes of prepared or preserved groundnuts, reflecting a modest decline of 5.9% compared to the previous year. Over the 2017-2020 period, imports decreased by 2.8%, with a compound annual growth rate of 0.9%. The lowest import volume was recorded in 2018 at 5 872 tonnes, which also saw the largest decline of 7.9%. The highest volume was in 2019 at 6 583 tonnes, marking the largest increase of 12.1%.

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

From 2017 to 2020, China (50.8% of imports in kind), the United States (25.4%), and Argentina (15.2%) were the key partners for imports in kind. Together, these three countries accounted for 91.4% of total import 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

The Philippines saw an increase in prepared or preserved groundnuts import volume for the third consecutive year. In 2020, imports were recorded at 15 669 thousand US dollars, corresponding to a significant gain of 18.8% compared to 2019. Between 2017 and 2020, imports grew by 51%, equating to an annualized rate of 14.7%.

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

Between 2017 and 2020, China (58.2% of imports in value terms), the United States (21.2%), and Argentina (13.1%) dominated the structure of imports in value terms. Collectively, they represented 92.5% 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