Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore - 2023
Contents:
- Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore (CIF) - 2023
- Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore (FOB) - 2022
- Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore
- Exports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore
Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore (CIF) - 2023
The average import price for fats and oils and their fractions; of fish, (excluding liver-oils)s stood at $64,477 per ton in September 2022, increasing by 283% against the previous month. Over the period under review, the import price saw a significant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was the United States ($69,485 per ton), while the price for Norway stood at $18,195 per ton.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by the United States (+24.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore (FOB) - 2022
The average export price for fats and oils and their fractions; of fish, (excluding liver-oils)s stood at $37,054 per ton in 2022, jumping by 18% against the previous year. In general, the export price enjoyed tangible growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 141%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($38,351 per ton), while the average price for exports to Japan ($10,536 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 (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore
For the fourth year in a row, Singapore recorded growth in purchases abroad of fats and oils and their fractions; of fish, (excluding liver-oils)s, which increased by 7% to 441 tons in 2022. The total import volume increased at an average annual rate of +9.6% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 22%. Over the period under review, imports of reached the maximum in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of fats and oils and their fractions; of fish, (excluding liver-oils)s dropped to $4.5M in 2022. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 68% against the previous year. As a result, imports attained the peak of $4.7M, and then reduced in the following year.
| Import of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1.5 | 1.4 | 2.5 | 2.6 | 20.1% |
| Switzerland | 0.3 | 0.6 | 1.6 | 0.9 | 44.2% |
| Chile | 0.3 | 0.4 | 0.4 | 0.6 | 26.0% |
| Others | 0.4 | 0.5 | 0.3 | 0.4 | 0.0% |
| Total | 2.5 | 2.8 | 4.7 | 4.5 | 21.6% |
Top Suppliers of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) to Singapore in 2022:
- Chile (297.2 tons)
- United States (70.1 tons)
- Switzerland (44.7 tons)
Exports of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore
In 2022, exports of fats and oils and their fractions; of fish, (excluding liver-oils)s from Singapore dropped markedly to 19 tons, waning by -28% against the previous year. In general, exports showed a perceptible curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. As a result, the exports attained the peak of 26 tons, and then reduced dramatically in the following year.
In value terms, exports of fats and oils and their fractions; of fish, (excluding liver-oils)s reduced notably to $698K in 2022. Overall, exports, however, showed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 89%. As a result, the exports attained the peak of $824K, and then dropped rapidly in the following year.
| Export of Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 68.1 | 301 | 594 | 673 | 114.6% |
| Indonesia | 4.3 | 60.8 | 174 | 13.4 | 46.1% |
| Vietnam | 8.4 | 19.3 | 8.2 | 4.9 | -16.4% |
| China | 178 | 21.5 | 24.6 | 0.6 | -85.0% |
| New Zealand | 14.2 | N/A | 3.9 | N/A | -47.6% |
| Others | 3.8 | 32.6 | 20.6 | 6.1 | 17.1% |
| Total | 277 | 435 | 824 | 698 | 36.1% |
Top Export Markets for Fats and Oils and Their Fractions; of Fish, (Excluding Liver-Oils) from Singapore in 2022:
- Malaysia (17.5 tons)
- Indonesia (0.8 tons)
- Vietnam (0.2 tons)
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This report provides an in-depth analysis of the market for fish fat and oil in Singapore.
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This report provides an in-depth analysis of the global market for fish fat and oil.
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This report provides an in-depth analysis of the market for fish fat and oil in Singapore.
820
This report provides an in-depth analysis of the global market for fish fat and oil.
622
Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
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Over the past decade, global production of fish fat and oil rose from 3.7M tons to 11.3M tons. In value terms, production expanded significantly from $6.5B to $16.7B estimated in export prices.
