Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore - 2022
Contents:
- Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore (CIF) - 2022
- Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore (FOB) - 2022
- Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore
- Exports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore
Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore (CIF) - 2022
The average import price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) stood at $7,278 per ton in September 2022, falling by -5.7% against the previous month. Over the period under review, import price indicated a noticeable expansion from September 2021 to September 2022: its price increased at an average monthly rate of +2.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, import price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) decreased by -17.1% against July 2022 indices. The pace of growth appeared the most rapid in January 2022 when the average import price increased by 49% against the previous month. The import price peaked at $8,785 per ton in July 2022; however, from August 2022 to September 2022, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was New Zealand ($10,381 per ton), while the price for the UK ($2,514 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 Australia (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore (FOB) - 2022
The average export price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) stood at $9,136 per ton in 2022, growing by 35% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) increased by +129.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 41%. The export price peaked in 2022 and is likely to see steady growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($15,631 per ton), while the average price for exports to Indonesia ($7,381 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 Hong Kong SAR (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore
In 2022, approx. 5.1K tons of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) were imported into Singapore; increasing by 2.4% on the previous year's figure. The total import volume increased at an average annual rate of +1.4% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. As a result, imports reached the peak of 5.5K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) reached $29M in 2022. The total import value increased at an average annual rate of +6.5% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 15% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.
| Import of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 19.6 | 21.2 | 21.7 | 23.0 | 5.5% |
| New Zealand | 4.2 | 6.5 | 5.4 | 5.5 | 9.4% |
| Ireland | N/A | 0.2 | 0.4 | 0.6 | 73.2% |
| Others | 0.5 | 0.2 | 0.3 | 0.4 | -7.2% |
| Total | 24.3 | 28.1 | 27.8 | 29.4 | 6.6% |
Top Suppliers of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) to Singapore in 2022:
- Australia (4.3K tons)
- New Zealand (0.6K tons)
- Ireland (0.1K tons)
Exports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore
In 2022, exports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) from Singapore shrank rapidly to 102 tons, reducing by -49% against the previous year. In general, exports faced a dramatic contraction. The smallest decline of -6.6% was in 2020.
In value terms, exports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) contracted notably to $931K in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. As a result, the exports reached the peak of $1.4M, and then declined notably in the following year.
| Export of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 76.5 | 177 | 358 | 444 | 79.7% |
| Malaysia | 64.6 | 94.3 | 3.2 | 171 | 38.3% |
| Cambodia | 11.2 | 26.4 | 26.3 | 139 | 131.5% |
| Maldives | 40.1 | 44.4 | 225 | 119 | 43.7% |
| Timor-Leste | 1.1 | 8.6 | 34.7 | 45.2 | 245.1% |
| Hong Kong SAR | 25.3 | 44.4 | N/A | N/A | 75.5% |
| Oman | 728 | 344 | 78.0 | N/A | -67.3% |
| Australia | 0.2 | 318 | 598 | N/A | 5368.1% |
| Others | 3.1 | 10.8 | 29.5 | 12.2 | 57.9% |
| Total | 951 | 1,066 | 1,353 | 931 | -0.7% |
Top Export Markets for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) from Singapore in 2022:
- Indonesia (60.1 tons)
- Malaysia (18.9 tons)
- Maldives (9.6 tons)
- Cambodia (8.9 tons)
- Timor-Leste (3.3 tons)
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