Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Singapore - 2023

Contents:

1. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Singapore (CIF) - 2023
2. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Singapore (FOB) - 2023
3. Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Singapore
4. Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Singapore

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Singapore (CIF) - 2023

The average import price for crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses stood at $12,044 per ton in September 2022, rising by 40% against the previous month. In general, the import price enjoyed a significant increase. The most prominent rate of growth was recorded in August 2022 an increase of 57% month-to-month. Over the period under review, average import prices reached the maximum in September 2022.

There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was China ($16,157 per ton), while the price for Malaysia ($5,330 per ton) was amongst the lowest.

From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Thailand (+70.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Singapore (FOB) - 2023

The average export price for crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses stood at $14,711 per ton in September 2022, with an increase of 10% against the previous month. Over the period from June 2022 to September 2022, it increased at an average monthly rate of +10.1%. The pace of growth appeared the most rapid in July 2022 when the average export price increased by 28% month-to-month. Over the period under review, the average export prices attained the maximum in September 2022.

Average prices varied somewhat for the major foreign markets. In September 2022, the country with the highest price was Malaysia ($19,132 per ton), while the average price for exports to Japan amounted to $14,479 per ton.

From June 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+9.9%).

Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Singapore

In 2022, imports of crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses into Singapore rose slightly to 399 tons, increasing by 1.5% on the previous year's figure. The total import volume increased at an average annual rate of +13.9% over the period 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 with an increase of 25%. Over the period under review, imports of reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, imports of crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses rose markedly to $2.3M in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +18.6% 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 +66.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in years to come.

Top Suppliers of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers to Singapore in 2022:

1. Malaysia (216.0 tons)
2. Indonesia (78.7 tons)
3. China (43.5 tons)
4. Philippines (28.3 tons)
5. Vietnam (11.0 tons)
6. Thailand (10.5 tons)

Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers in Singapore

In 2022, shipments abroad of crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses decreased by -19.7% to 151 tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 288%.

In value terms, exports of crustacean preparations; shrimps and prawns, prepared or preserved, in airtight containerses contracted notably to $1.6M in 2022. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 331% against the previous year.

Top Export Markets for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, in Airtight Containers from Singapore in 2022:

1. Japan (133.7 tons)
2. Malaysia (9.2 tons)
3. Hong Kong SAR (4.0 tons)
4. Australia (0.8 tons)

Source: IndexBox Market Intelligence Platform