Price for Crustacean Preparations; Lobster, Prepared or Preserved in Singapore - 2022

Contents:

1. Price for Crustacean Preparations; Lobster, Prepared or Preserved in Singapore (CIF) - 2022
2. Price for Crustacean Preparations; Lobster, Prepared or Preserved in Singapore (FOB) - 2022
3. Imports of Crustacean Preparations; Lobster, Prepared or Preserved in Singapore
4. Exports of Crustacean Preparations; Lobster, Prepared or Preserved in Singapore

Price for Crustacean Preparations; Lobster, Prepared or Preserved in Singapore (CIF) - 2022

In September 2022, the average import price for crustacean preparations; lobster, prepared or preserveds amounted to $16,698 per ton, shrinking by -49% against the previous month. In general, the import price, however, recorded moderate growth. The pace of growth was the most pronounced in February 2022 when the average import price increased by 566% m-o-m. As a result, import price reached the peak level of $60,140 per ton. From March 2022 to September 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was France ($120K per ton), while the price for Malaysia ($6,133 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 Taiwan (Chinese) (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Crustacean Preparations; Lobster, Prepared or Preserved in Singapore (FOB) - 2022

In 2022, the average export price for crustacean preparations; lobster, prepared or preserveds amounted to $24,785 per ton, falling by -31.3% against the previous year. Over the period under review, the export price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2021 an increase of 115%. As a result, the export price attained the peak level of $36,064 per ton, and then plummeted in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($40,740 per ton), while the average price for exports to Timor-Leste ($5,849 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 Vietnam (+46.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crustacean Preparations; Lobster, Prepared or Preserved in Singapore

In 2022, imports of crustacean preparations; lobster, prepared or preserveds into Singapore expanded rapidly to 234 tons, with an increase of 5.9% against 2021 figures. In general, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +15.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.6% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 36% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of crustacean preparations; lobster, prepared or preserveds skyrocketed to $6.1M in 2022. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 41%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in years to come.

Top Suppliers of Crustacean Preparations; Lobster, Prepared or Preserved to Singapore in 2022:

1. Malaysia (90.7 tons)
2. Canada (45.6 tons)
3. United States (34.0 tons)
4. Japan (18.4 tons)
5. Vietnam (17.0 tons)
6. France (11.5 tons)
7. Taiwan (Chinese) (9.0 tons)

Exports of Crustacean Preparations; Lobster, Prepared or Preserved in Singapore

In 2022, approx. 8.6 tons of crustacean preparations; lobster, prepared or preserveds were exported from Singapore; which is down by -58.2% against 2021. Overall, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 395%. As a result, the exports attained the peak of 21 tons, and then plummeted in the following year.

In value terms, exports of crustacean preparations; lobster, prepared or preserveds shrank significantly to $214K in 2022. Over the period under review, exports, however, recorded significant growth. The growth pace was the most rapid in 2021 when exports increased by 963% against the previous year. As a result, the exports attained the peak of $744K, and then declined notably in the following year.

Top Export Markets for Crustacean Preparations; Lobster, Prepared or Preserved from Singapore in 2022:

1. Hong Kong SAR (3.0 tons)
2. Malaysia (2.5 tons)
3. Philippines (0.9 tons)
4. Brunei Darussalam (0.8 tons)
5. Canada (0.7 tons)
6. Timor-Leste (0.4 tons)
7. Indonesia (0.2 tons)

Source: IndexBox Market Intelligence Platform