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Philippines fastest growing fry market

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The Philippines is the fastest growing fry import market in the world, with demand up 74.0% to 121,652 tonnes in the year ending April 2017. In April 10,841 tonnes of fries were imported, an increase of 29.7% on the April 2016 figure.

Philippines fastest growing fry market

The average price of fry imports in April was Peso 41,671/tonne, up 15.3% on the same month last year. However, the year ending price when calculated in US dollars in April 2017 was up by only 4.9% to US$816/tonne.

All four of the world’s main fry exporting nations have benefitted from the increase in demand from the Philippines. US fry imports rose by 30.0% to 52,344 tonnes in the year ending April 2017 and there was a 11.2% increase in April to 4,225 tonnes. The average price of US fries has increased by 11.4% to Peso 42,543/tonne over the year.

Belgian imports increased by 75.2% over the annual period to 29,803 tonnes, with a 52.3% increase in April trade to 3,122 tonnes. The average price of Belgian fries has increased by 15.8% over the last year. Canadian and Dutch imports have both increased by more than 200% over the last year, but while there was an 80.1% increase in Dutch fry imports in April, there was a 16.0% drop in demand for Canadian product during the month.

US exporters to the Philippines are being helped by some stability in the value of the Peso against the US dollar. The current rate of US$1=Peso51.2 is 10.4% stronger than a year ago, similar to the rate at the beginning of 2017. That compares with a rapid strengthening of the euro against the Peso over the last year. The current rate of €1=Peso60.4 is 15.5% stronger than a year ago with most of that strengthening taking place since April. There has also been a 7.2% increase in the value of Canadian dollar since April to Ca$1=Peso40.3.

 

Philippines imports of fries and other HS 200410 products (tonnes, Peso million, Peso/tonne) 

April:  May-April: 
2017  % ch’ge  2016  2015  2016/17  % ch’ge  2015/16  2014/15 
A.Tonnes  10841  +29.7  8358  4848  121652  +74.0  69909  58332 
United States 4225 +11.2 3801 1288 52344 +30.0 40260 35632
Belgium 3122 +52.3 2050 1352 29803 +75.2 17013 11086
Canada 1136 -16.0 1353 1846 17487 +210.6 5630 7035
Netherlands 1668 +80.1 926 270 16999 +208.3 5513 3952
New Zealand 349 na 0 0 2714 na 0 1
Germany 341 +278.9 90 69 1622 +87.5 865 208
B.Peso million 
Total  451.758  +49.5  302.127  142.709  4839.566  +91.1  2532.266  1869.751 
United States 176.810 +14.4 154.510 44.389 2226.879 +44.8 1538.108 1230.962
Canada 127.225 +95.4 65.094 38.132 1108.223 +102.9 546.146 319.742
Belgium 52.470 +20.6 43.522 49.012 664.947 +249.1 190.468 170.207
Netherlands 64.819 +103.8 31.802 8.298 622.281 +216.2 196.779 129.463
Denmark 17.884 na 0.000 0.000 134.624 na 0.000 0.074
Germany 12.550 +343.9 2.827 2.181 58.690 +71.2 34.287 6.669
C.Peso/tonne 
Total  41671  +15.3  36148  29437  39782  +9.8  36222  32054 
United States 41849 +2.9 40650 34464 42543 +11.4 38204 34547
Belgium 40751 +28.3 31753 28204 37185 +15.8 32102 28842
Canada 46189 +43.6 32167 26550 38025 +12.4 33831 24194
Netherlands 38860 +13.2 34343 30734 36607 +2.6 35694 32759
New Zealand 51243 na na na 49603 na na 74478
Germany 36804 na 0 31608 36184 -8.7 39638 32065
Note: * Products covered by Harmonised System code 200410. Source: IHS GTA

 

Reproduced with permission from World Potato Markets Issue 330.