Nucleic Acids Price in the Philippines - 2023

Contents:

1. Nucleic Acids Price in the Philippines (CIF) - 2022
2. Nucleic Acids Price in the Philippines (FOB) - 2022
3. Nucleic Acids Imports in the Philippines
4. Nucleic Acids Exports in the Philippines

Nucleic Acids Price in the Philippines (CIF) - 2022

The average nucleic acids import price stood at $17,265 per ton in 2022, remaining constant against the previous year. Over the period under review, the import price showed a pronounced setback. The most prominent rate of growth was recorded in 2015 when the average import price increased by 29%. Over the period under review, average import prices hit record highs at $29,392 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($187,479 per ton), while the price for Singapore ($8,146 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Nucleic Acids Price in the Philippines (FOB) - 2022

The average nucleic acids export price stood at $6,392 per ton in 2022, which is down by -68.1% against the previous year. Over the period under review, the export price saw a abrupt setback. The growth pace was the most rapid in 2020 when the average export price increased by 371%. As a result, the export price attained the peak level of $125,393 per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($18,439 per ton), while the average price for exports to Vietnam amounted to $5,156 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Nucleic Acids Imports in the Philippines

In 2022, the amount of nucleic acids and their salts imported into the Philippines expanded sharply to 1.6K tons, picking up by 7.1% on the previous year's figure. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +11.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, nucleic acids imports expanded rapidly to $28M in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year.

Top Suppliers of Nucleic Acids to the Philippines in 2022:

1. China (899.4 tons)
2. Singapore (266.4 tons)
3. Indonesia (245.9 tons)
4. Germany (125.4 tons)
5. Japan (29.0 tons)

Nucleic Acids Exports in the Philippines

In 2022, shipments abroad of nucleic acids and their salts decreased by -96.2% to 1.6 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by 605%. As a result, the exports reached the peak of 42 tons, and then dropped markedly in the following year.

In value terms, nucleic acids exports dropped notably to $10K in 2022. In general, exports recorded a dramatic decrease. The most prominent rate of growth was recorded in 2020 with an increase of 2,680%.

Top Export Markets for Nucleic Acids from the Philippines in 2022:

1. Vietnam (1443.0 kg)
2. Singapore (148.0 kg)

Source: IndexBox Market Intelligence Platform