Price for Cereal Groats and Meal; of Wheat in Singapore - 2023

Price for Cereal Groats and Meal; of Wheat in Singapore (CIF) - 2022

In 2022, the average import price for cereal groats and meal; of wheats amounted to $1,113 per ton, rising by 24% against the previous year. Overall, the import price, however, continues to indicate a abrupt shrinkage. The import price peaked at $2,696 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($2,439 per ton), while the price for India ($624 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.7%), while the prices for the other major suppliers experienced a decline.

Price for Cereal Groats and Meal; of Wheat in Singapore (FOB) - 2022

The average export price for cereal groats and meal; of wheats stood at $929 per ton in 2022, rising by 6.5% against the previous year. Overall, the export price, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2017 an increase of 87% against the previous year. As a result, the export price reached the peak level of $1,971 per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($1,614 per ton), while the average price for exports to Malaysia ($921 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cereal Groats and Meal; of Wheat in Singapore

In 2022, after three years of growth, there was significant decline in purchases abroad of cereal groats and meal; of wheats, when their volume decreased by -57.9% to 160 tons. In general, imports faced a abrupt setback. The pace of growth appeared the most rapid in 2020 when imports increased by 57% against the previous year.

In value terms, imports of cereal groats and meal; of wheats declined rapidly to $178K in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 73% against the previous year.

Import of Cereal Groats and Meal; of Wheat in Singapore (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	25.6	91.9	140	90.4	52.3%
India	148	196	169	63.3	-24.7%
United Arab Emirates	N/A	N/A	N/A	10.2	0%
Italy	2.3	4.3	22.0	10.0	63.2%
Others	4.7	20.2	8.2	3.7	-7.7%
Total	180	312	340	178	-0.4%

Top Suppliers of Cereal Groats and Meal; of Wheat to Singapore in 2022:

India (101.3 tons)
United States (37.0 tons)
United Arab Emirates (12.4 tons)
Italy (7.4 tons)

Exports of Cereal Groats and Meal; of Wheat in Singapore

For the fourth consecutive year, Singapore recorded growth in overseas shipments of cereal groats and meal; of wheats, which increased by 84% to 19 tons in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 219% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, exports of cereal groats and meal; of wheats skyrocketed to $17K in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 222%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.