Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Singapore - 2022

Contents:

1. Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Singapore (CIF) - 2022
2. Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Singapore (FOB) - 2022
3. Imports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Singapore
4. Exports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Singapore

Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Singapore (CIF) - 2022

In September 2022, the average import price for cheese, other than blue-veined, grated, powdered or processed amounted to $13,811 per ton, almost unchanged from the previous month. In general, import price indicated pronounced growth from September 2021 to September 2022: its price increased at an average monthly rate of +4.1% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, import price for cheese, other than blue-veined, grated, powdered or processed decreased by -3.0% against June 2022 indices. The growth pace was the most rapid in January 2022 when the average import price increased by 42% month-to-month. Over the period under review, average import prices reached the peak figure at $14,235 per ton in June 2022; however, from July 2022 to September 2022, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Switzerland ($33,710 per ton), while the price for Malaysia ($2,227 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 (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Singapore (FOB) - 2022

The average export price for cheese, other than blue-veined, grated, powdered or processed stood at $6,715 per ton in 2022, standing approx. at the previous year. In general, the export price showed a pronounced decline. The pace of growth was the most pronounced in 2018 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices reached the maximum at $9,580 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($17,367 per ton), while the average price for exports to India ($3,958 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 Indonesia (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Singapore

For the fourth consecutive year, Singapore recorded growth in overseas purchases of cheese, other than blue-veined, grated, powdered or processed, which increased by 0.9% to 1.1K tons in 2022. The total import volume increased at an average annual rate of +10.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 19%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of cheese, other than blue-veined, grated, powdered or processed soared to $10M in 2022. The total import value increased at an average annual rate of +13.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 17% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Cheese, Other than Blue-Veined, Grated, Powdered or Processed to Singapore in 2022:

1. India (188.9 tons)
2. Italy (148.9 tons)
3. United States (118.9 tons)
4. Netherlands (96.4 tons)
5. Germany (89.5 tons)
6. France (76.1 tons)
7. Malaysia (72.0 tons)
8. Australia (71.9 tons)
9. Switzerland (60.8 tons)
10. Greece (56.6 tons)
11. New Zealand (11.2 tons)

Exports of Cheese, Other than Blue-Veined, Grated, Powdered or Processed in Singapore

In 2022, after three years of growth, there was significant decline in shipments abroad of cheese, other than blue-veined, grated, powdered or processed, when their volume decreased by -6.1% to 502 tons. The total export volume increased at an average annual rate of +7.5% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2020 with an increase of 21%.

In value terms, exports of cheese, other than blue-veined, grated, powdered or processed shrank to $3.4M in 2022. The total export value increased at an average annual rate of +3.0% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 20%. As a result, the exports attained the peak of $3.6M, and then fell in the following year.

Top Export Markets for Cheese, Other than Blue-Veined, Grated, Powdered or Processed from Singapore in 2022:

1. Brunei Darussalam (206.9 tons)
2. Malaysia (97.4 tons)
3. Nepal (66.0 tons)
4. Indonesia (36.7 tons)
5. Japan (32.2 tons)
6. Hong Kong SAR (25.1 tons)
7. India (15.8 tons)
8. Thailand (7.1 tons)

Source: IndexBox Market Intelligence Platform