Price for Food Preparations Not Elsewhere Specified or Included in Singapore - 2023
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in Singapore (FOB) - 2022
- Price for Food Preparations Not Elsewhere Specified or Included in Singapore (CIF) - 2022
- Exports of Food Preparations Not Elsewhere Specified or Included in Singapore
- Imports of Food Preparations Not Elsewhere Specified or Included in Singapore
Price for Food Preparations Not Elsewhere Specified or Included in Singapore (FOB) - 2022
The average export price for food preparations not elsewhere specified or included stood at $20,435 per ton in 2022, growing by 12% against the previous year. In general, the export price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2013 an increase of 97%. The export price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($61,045 per ton), while the average price for exports to France ($1,821 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 the United States (+37.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Food Preparations Not Elsewhere Specified or Included in Singapore (CIF) - 2022
The average import price for food preparations not elsewhere specified or included stood at $4,078 per ton in 2022, surging by 3.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 21% against the previous year. The import price peaked at $5,948 per ton in 2017; however, from 2018 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 ($27,919 per ton), while the price for Indonesia ($1,602 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Food Preparations Not Elsewhere Specified or Included in Singapore
After three years of growth, overseas shipments of food preparations not elsewhere specified or included decreased by -5% to 336K tons in 2022. The total export volume increased at an average annual rate of +6.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 13% against the previous year. As a result, the exports attained the peak of 353K tons, and then reduced slightly in the following year.
In value terms, exports of food preparations not elsewhere specified or included expanded markedly to $6.9B in 2022. The total export value increased at an average annual rate of +9.7% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 12%. Over the period under review, the exports of reached the maximum in 2022 and are likely to continue growth in the immediate term.
| Export of Food Preparations Not Elsewhere Specified or Included in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2,997 | 3,401 | 3,721 | 3,970 | 9.8% |
| Australia | 429 | 400 | 457 | 449 | 1.5% |
| Philippines | 292 | 331 | 375 | 381 | 9.3% |
| Vietnam | 224 | 226 | 261 | 324 | 13.1% |
| Malaysia | 186 | 186 | 239 | 269 | 13.1% |
| Thailand | 215 | 287 | 279 | 266 | 7.4% |
| Indonesia | 85.9 | 106 | 154 | 179 | 27.7% |
| Japan | 105 | 150 | 158 | 159 | 14.8% |
| China | 49.3 | 94.1 | 116 | 116 | 33.0% |
| Hong Kong SAR | 90.5 | 75.9 | 82.7 | 96.0 | 2.0% |
| Netherlands | 11.1 | 13.6 | 14.5 | 11.8 | 2.1% |
| France | 8.0 | 12.2 | 16.9 | 11.0 | 11.2% |
| United Kingdom | 16.7 | 15.3 | 15.6 | 10.1 | -15.4% |
| Others | 482 | 542 | 575 | 617 | 8.6% |
| Total | 5,192 | 5,840 | 6,465 | 6,859 | 9.7% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Singapore in 2022:
- United States (65.0K tons)
- Malaysia (39.7K tons)
- Japan (37.9K tons)
- China (36.1K tons)
- Philippines (21.9K tons)
- Vietnam (15.4K tons)
- Australia (15.2K tons)
- Thailand (14.2K tons)
- Indonesia (13.5K tons)
- Hong Kong SAR (6.2K tons)
- France (6.0K tons)
- Netherlands (5.4K tons)
- United Kingdom (5.0K tons)
Imports of Food Preparations Not Elsewhere Specified or Included in Singapore
In 2022, after three years of growth, there was decline in purchases abroad of food preparations not elsewhere specified or included, when their volume decreased by -0.7% to 196K tons. The total import volume increased at an average annual rate of +8.9% 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 2021 when imports increased by 14%. As a result, imports reached the peak of 197K tons, leveling off in the following year.
In value terms, imports of food preparations not elsewhere specified or included expanded modestly to $798M in 2022. The total import value increased at an average annual rate of +7.8% from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 12%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the near future.
| Import of Food Preparations Not Elsewhere Specified or Included in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 112 | 138 | 174 | 176 | 16.3% |
| United States | 137 | 127 | 135 | 143 | 1.4% |
| China | 64.7 | 78.8 | 101 | 87.6 | 10.6% |
| Malaysia | 61.2 | 70.4 | 87.6 | 85.1 | 11.6% |
| United Kingdom | 15.8 | 45.9 | 16.3 | 36.7 | 32.4% |
| Taiwan (Chinese) | 23.6 | 22.5 | 30.4 | 28.8 | 6.9% |
| Thailand | 18.9 | 18.1 | 19.5 | 23.9 | 8.1% |
| Netherlands | 19.7 | 19.5 | 19.7 | 21.4 | 2.8% |
| Others | 183 | 172 | 190 | 196 | 2.3% |
| Total | 637 | 692 | 774 | 798 | 7.8% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Singapore in 2022:
- Indonesia (110.1K tons)
- Malaysia (31.8K tons)
- China (12.2K tons)
- Thailand (9.3K tons)
- United States (5.1K tons)
- United Kingdom (4.0K tons)
- Netherlands (3.9K tons)
- Taiwan (Chinese) (3.7K tons)
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