Philippines: Spinach Market 2024

Spinach Market Size in the Philippines

The Philippine spinach market stood at $X in 2023, remaining stable against the previous year. In general, the total consumption indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Spinach Production in the Philippines

In value terms, spinach production reached $X in 2023 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Spinach production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

In 2023, the average yield of spinach in the Philippines shrank modestly to X tons per ha, standing approx. at the previous year. Overall, the yield, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the yield increased by X% against the previous year. The spinach yield peaked at X tons per ha in 2022, and then dropped slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The spinach harvested area in the Philippines amounted to X ha in 2023, approximately equating the year before. The harvested area increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The spinach harvested area peaked at X ha in 2017; however, from 2018 to 2023, the harvested area remained at a lower figure.

Spinach Exports

Exports from the Philippines

In 2022, after two years of decline, there was decline in shipments abroad of spinach, when their volume decreased by X% to X kg. Overall, exports showed a resilient increase. The smallest decline of X% was in 2020. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, spinach exports totaled $X in 2022. Over the period under review, exports saw a prominent expansion. The smallest decline of X% was in 2020. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Jordan (X kg) and Canada (X kg) were the main destinations of spinach exports from the Philippines.

From 2019 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jordan (with a CAGR of X%).

In value terms, the largest markets for spinach exported from the Philippines were Canada ($X) and Jordan ($X).

Jordan, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average spinach export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2020 when the average export price decreased by X%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Jordan totaled $X per ton.

From 2019 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%).

Spinach Imports

Imports into the Philippines

Spinach imports into the Philippines declined significantly to X kg in 2023, waning by X% against 2022 figures. Over the period under review, imports recorded a sharp contraction. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, spinach imports shrank sharply to $X in 2023. Overall, imports recorded a dramatic slump. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, France (X kg) was the main spinach supplier to the Philippines, accounting for a approx. X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of volume from France stood at X%.

In value terms, France ($X) constituted the largest supplier of spinach to the Philippines.

From 2012 to 2023, the average annual rate of growth in terms of value from France stood at X%.

Import Prices by Country

In 2023, the average spinach import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price posted buoyant growth. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The import price peaked at $X per ton in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for France.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform