Edible oils saw a slight improvement in volume and value growth in 2019 versus 2018. Although there is sustained eating out, there is also a growing interest in cooking, especially since culinary schools or culinary courses are becoming popular in the country and are growing in number.
Other edible oils in the Philippines mostly comprises coconut oil. Prices of copra (raw material for coconut oil production) have been decreasing since 2018.
Exports of palm oil from neighbouring countries in Southeast Asia to the Philippines have surged in recent years. Indeed, the volume of palm oil imports increased by more than 100% (176.
In 2019, San Pablo Mfg Corp maintained its lead within edible oils. It derives its share mainly from vegetable and seed oil with its brand, Minola, which is best known for coconut oil.
In 2018, the value share of the second-ranked player within olive oil, Pietro Coricelli, declined by double digits due to supply issues with its brand of the same name. For this reason, the company’s position in olive oil dropped second to fourth, and the brand has not been available in the Philippines since mid-2018.
San Pablo Mfg Corp entered olive oil in 2019, as it is now distributing the Spanish brand, Olivari, which is owned by Sovena. Olivari is available in extra virgin olive oil, pure olive oil and pomace.
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