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Singapore - Butter - Market Analysis, Forecast, Size, Trends and Insights
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View PricingButter Price in Singapore - 2022
Contents:
- Butter Price in Singapore (CIF) - 2022
- Butter Price in Singapore (FOB) - 2022
- Butter Imports in Singapore
- Butter Exports in Singapore
Butter Price in Singapore (CIF) - 2022
The average butter import price stood at $10,906 per ton in September 2022, stabilizing at the previous month. Overall, import price indicated prominent growth from September 2021 to September 2022: its price increased at an average monthly rate of +5.0% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, butter import price decreased by -0.9% against June 2022 indices. The most prominent rate of growth was recorded in January 2022 an increase of 32% m-o-m. The import price peaked at $11,006 per ton in June 2022; however, from July 2022 to September 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Belgium ($13,900 per ton), while the price for Australia ($9,245 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Butter Price in Singapore (FOB) - 2022
In September 2022, the average butter export price amounted to $11,071 per ton, which is down by -5.9% against the previous month. Overall, export price indicated a resilient expansion from September 2021 to September 2022: its price increased at an average monthly rate of +5.4% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, butter export price decreased by -5.9% against August 2022 indices. The pace of growth was the most pronounced in December 2021 an increase of 65% m-o-m. Over the period under review, the average export prices attained the peak figure at $11,761 per ton in August 2022, and then contracted in the following month.
Average prices varied noticeably for the major overseas markets. In September 2022, the country with the highest price was Brunei Darussalam ($12,176 per ton), while the average price for exports to Hong Kong SAR ($10,418 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brunei Darussalam (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.
Butter Imports in Singapore
Butter imports into Singapore reduced remarkably to 12K tons in 2022, waning by -22.5% compared with the previous year. Over the period under review, imports saw a deep contraction. The growth pace was the most rapid in 2021 when imports increased by 12% against the previous year.
In value terms, butter imports fell slightly to $87M in 2022. Overall, imports continue to indicate a slight contraction. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year.
Import of Butter in Singapore (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
New Zealand | 34.7 | 27.6 | 30.4 | 30.0 | -4.7% |
Netherlands | 19.6 | 11.3 | 14.4 | 16.5 | -5.6% |
France | 12.9 | 10.7 | 12.3 | 13.1 | 0.5% |
Australia | 11.7 | 9.4 | 11.8 | 10.1 | -4.8% |
Denmark | 5.3 | 5.2 | 6.1 | 8.4 | 16.6% |
Belgium | 1.7 | 3.3 | 1.5 | 1.9 | 3.8% |
United Kingdom | 1.3 | 1.1 | 1.6 | 1.4 | 2.5% |
Others | 4.9 | 5.6 | 12.3 | 5.8 | 5.8% |
Total | 92.1 | 74.2 | 90.4 | 87.2 | -1.8% |
Top Suppliers of Butter to Singapore in 2022:
- New Zealand (4.4K tons)
- Netherlands (2.2K tons)
- France (1.6K tons)
- Australia (1.6K tons)
- Denmark (1.2K tons)
- United Kingdom (0.2K tons)
- Belgium (0.2K tons)
Butter Exports in Singapore
In 2022, approx. 1.3K tons of butter were exported from Singapore; which is down by -5.6% against the year before. Over the period under review, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 13%.
In value terms, butter exports surged to $9.1M in 2022. Overall, exports saw a deep slump.
Export of Butter in Singapore (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 8.6 | 4.5 | 4.5 | 7.7 | -3.6% |
Philippines | N/A | N/A | N/A | 0.3 | 0% |
Brunei Darussalam | 0.1 | 0.2 | 0.2 | 0.3 | 44.2% |
Thailand | 0.3 | 0.2 | 0.3 | 0.3 | 0.0% |
Hong Kong SAR | N/A | 0.1 | 0.5 | 0.3 | 73.2% |
Maldives | 0.3 | N/A | 0.2 | 0.2 | -12.6% |
Oman | 0.5 | 0.7 | 0.5 | N/A | 0.0% |
Netherlands | 1.0 | N/A | 0.1 | N/A | -68.4% |
Others | 0.6 | 0.6 | 0.9 | 0.2 | -30.7% |
Total | 11.3 | 6.2 | 7.3 | 9.1 | -7.0% |
Top Export Markets for Butter from Singapore in 2022:
- Japan (1071.3 tons)
- Philippines (40.6 tons)
- Brunei Darussalam (34.4 tons)
- Hong Kong SAR (33.6 tons)
- Thailand (32.3 tons)
- Maldives (22.7 tons)
This report provides an in-depth analysis of the butter market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 886 - Butter of Cow Milk
Country coverage:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the butter market in Singapore.
This report provides an in-depth analysis of the butter and ghee market in Singapore.
This report provides an in-depth analysis of the market for butter and dairy spreads in Singapore.
This report provides an in-depth analysis of the ghee market in Singapore.
This report provides an in-depth analysis of the dairy produce market in Singapore.
This report provides an in-depth analysis of the dairy spread market in Singapore.
This report provides an in-depth analysis of the global butter market.
This report provides an in-depth analysis of the global butter and ghee market.
This report provides an in-depth analysis of the global market for butter and dairy spreads.
This report provides an in-depth analysis of the global ghee market.
Explore the top import markets for butter in the world based on data from IndexBox platform. Learn about the countries importing the most butter and the trends driving global butter trade.
The butter market is projected to experience steady growth over the next seven years, driven by increasing demand worldwide. Market performance is expected to see a CAGR of +1.8% in volume and +3.5% in value from 2023 to 2030.
This year global butter production is anticipated to keep up with ha last year, amounting to 5.6M tons. The EU is forecast to decrease butter exports due to a slight drop in production amid an increase in demand. Butter exports from New Zealand are not forecast to grow due to increased competition with UHT cream for food service being increasingly in demand.
The global trade in butter amounted to X million USD in 2015, fluctuating wildly over the period under review. A significant drop in 2009 was followed by a recovery over the next two years, until exports decreased again
New Zealand continued its dominance in the global butter trade. In 2014, New Zealand exported X thousand tons of butter totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its tota
Global butter and ghee consumption amounted to X thousand tons in 2015, remaining constant against the previous year level.
Global butter and ghee exports amounted to X thousand tons in 2015, coming down by -X% against the previous year level.
Global butter and ghee imports amounted to X thousand tons in 2015, descending by -X% against the previous year level.
In 2015, the countries with the highest levels of butter and ghee production were Turkey (X thousand tons), Iran (X thousand tons), Syria (X thousand tons), together accounting for X% of total output.
The global butter and ghee market fluctuated wildly, finally rising from X billion USD in 2007 to X billion USD in 2015.