Organo-Sulphur Compounds; Methionine Price in the Philippines - 2023
Contents:
- Organo-Sulphur Compounds; Methionine Price in the Philippines (CIF) - 2023
- Organo-Sulphur Compounds; Methionine Imports in the Philippines
Organo-Sulphur Compounds; Methionine Price in the Philippines (CIF) - 2023
The average organo-sulphur compounds; methionine import price stood at $1,799 per ton in June 2023, which is down by -16.3% against the previous month. Over the period under review, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 4.3% against the previous month. The import price peaked at $2,975 per ton in July 2022; however, from August 2022 to June 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was France ($2,467 per ton), while the price for India ($1,434 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by the United States (-2.7%), while the prices for the other major suppliers experienced a decline.
Organo-Sulphur Compounds; Methionine Imports in the Philippines
Organo-sulphur compounds; methionine imports into the Philippines was estimated at 30K tons in 2022, growing by 12% against 2021 figures. The total import volume increased at an average annual rate of +5.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, organo-sulphur compounds; methionine imports skyrocketed to $84M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +12.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Organo-Sulphur Compounds; Methionine in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 14.5 | 10.6 | 14.4 | 18.9 | 9.2% |
| Belgium | 14.7 | 11.5 | 12.9 | 18.3 | 7.6% |
| Japan | 8.8 | 8.7 | 12.9 | 16.9 | 24.3% |
| China | 8.9 | 6.3 | 11.4 | 15.0 | 19.0% |
| Malaysia | 2.7 | 4.3 | 4.7 | 6.2 | 31.9% |
| France | 2.7 | 1.3 | 1.6 | 2.2 | -6.6% |
| United States | 3.0 | 1.7 | 1.1 | 2.2 | -9.8% |
| Others | 4.3 | 3.8 | 2.9 | 4.4 | 0.8% |
| Total | 59.6 | 48.3 | 62.0 | 84.0 | 12.1% |
Top Suppliers of Organo-Sulphur Compounds; Methionine to the Philippines in 2022:
- Singapore (6.6K tons)
- Japan (6.0K tons)
- Belgium (5.9K tons)
- China (5.6K tons)
- Malaysia (2.1K tons)
- United States (1.0K tons)
- France (0.8K tons)
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