Philippines To Import 22,000 Tons of Onion Amid Domestic Crisis

Philippines customs data suggests that earlier in 2021, onion imports were estimated to be 42 million USD. While it dropped down to 70% in 2022 with total import volume 268,269 tons. The Philippines imports onions worth 29 million USD. Whereas, Philippines exports were merely 166K.

But currently due to adverse climatic conditions, the Philippines is facing onion shortage. Singapore and Malaysia were the leading destinations for onion imports to the Philippines. The Philippines government is in a rush to import 22,000 tons of onions to meet its rising domestic demand. Currently, the prices of onions soared to 700 pesos per kilogram in the Philippines domestic market.

Philippines Agriculture Imports

According to the Philippines import data records, the total agricultural imports will be worth 12 Billion US Dollars in 2022. Agricultural imports to the Philippines rose to 22% as compared to last year. The major agri imports by the Philippines were Cereals, Edible Meat, Animal, Vegetable fats, oils, food waste residues.

The majority of the agri imports were from Vietnam, Indonesia, Malaysia, Thailand and Singapore. In terms of European Union countries, Spain and France were the top agricultural goods suppliers to the Philippines followed by the Netherlands, Belgium, Ireland, UK and Germany.

Agkem Industrial Ventures, Agri-Lines International, AMO Tradings, Asiap Hill, Year Luck Food & Industrial Corporation, Ozark International and Atpar Enterprises were top Philippines import export companies.

Philippines Agriculture Exports

For the fiscal year 2022, Philippines agricultural exports were up by 20%. The Agricultural exports from the Philippines are worth around 8.24 billion US Dollars. The top product exports from Philippines were Animal/Vegetable Fats, Oils, Edible fruits, Nuts, Meat, Fish, Crustaceans, Molluscs and other marine animals.

Malaysia, Indonesia, Thailand, Singapore and Vietnam were the top importers of Agricultural goods. On the other hand, as per Philippines export data, Netherlands, Spain, Italy, Germany and Uk were among the top importers from EU Nations.

Philippines Trade Overview 2022

According to the Philippines import export data records, Philippines exports rose to 5.4% in 2022. Last year exports were 74 billion US Dollars while it increased to 78 billion US Dollars in 2022. On the other hand, Philippines imports stood at 135 billion US Dollars in 2022 while it was 115 billion US Dollars in 2021.

Mineral fuels, oils, Cereals, Vehicles, Machinery, Marine and Electronic Products were the most traded goods from the Philippines. The most crucial trading partners of the Philippines were China, South Korea, Japan, Indonesia and the United States. Currently, the Philippines is facing a trade deficit of 58 billion US Dollars. The government is planning to decrease its reliance on imports.

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