Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore - 2023

Contents:

1. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (FOB) - 2023
2. Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (CIF) - 2023
3. Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore
4. Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (FOB) - 2023

The average export price for powdered sweetened milk and cream of fat weight content over 1.5% stood at $3,563 per ton in June 2023, rising by 54% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $3,761 per ton in November 2022; however, from December 2022 to June 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In June 2023, the country with the highest price was Japan ($3,453 per ton), while the average price for exports to Malaysia amounted to $2,493 per ton.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.2%).

Price for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (CIF) - 2023

In June 2023, the average import price for powdered sweetened milk and cream of fat weight content over 1.5% amounted to $5,764 per ton, rising by 45% against the previous month. In general, the import price recorded a modest increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($20,948 per ton), while the price for Malaysia ($3,402 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Australia (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore

In 2022, the amount of powdered sweetened milk and cream of fat weight content over 1.5% exported from Singapore surged to 8.2K tons, rising by 16% compared with the previous year's figure. Over the period under review, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +19.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 60%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of powdered sweetened milk and cream of fat weight content over 1.5% skyrocketed to $29M in 2022. The total export value increased at an average annual rate of +4.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% from Singapore in 2022:

1. Japan (4.0K tons)

Imports of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore

In 2022, imports of powdered sweetened milk and cream of fat weight content over 1.5% into Singapore dropped remarkably to 4K tons, falling by -29.4% against 2021. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 35% against the previous year. As a result, imports reached the peak of 5.7K tons, and then shrank markedly in the following year.

In value terms, imports of powdered sweetened milk and cream of fat weight content over 1.5% shrank to $18M in 2022. The total import value increased at an average annual rate of +3.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. As a result, imports attained the peak of $20M, and then shrank in the following year.

Top Suppliers of Powdered Sweetened Milk and Cream of Fat Weight Content over 1.5% to Singapore in 2022:

1. Malaysia (642.2 tons)
2. Finland (607.5 tons)
3. Denmark (312.0 tons)
4. France (108.2 tons)
5. New Zealand (70.5 tons)
6. Australia (66.2 tons)
7. Switzerland (62.9 tons)

Source: IndexBox Market Intelligence Platform