Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore - 2023
Contents:
- Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (CIF) - 2023
- Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (FOB) - 2023
- Imports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore
- Exports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore
Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (CIF) - 2023
In June 2023, the average import price for powdered unsweetened milk and cream of fat weight content over 1.5% amounted to $3,462 per ton, picking up by 9.9% against the previous month. Over the period under review, the import price, however, showed a slight setback. Over the period under review, average import prices attained the maximum at $4,357 per ton in June 2022; however, from July 2022 to June 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Austria ($6,397 per ton), while the price for Denmark ($2,763 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 Austria (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (FOB) - 2023
The average export price for powdered unsweetened milk and cream of fat weight content over 1.5% stood at $3,321 per ton in June 2023, declining by -10% against the previous month. Over the period under review, the export price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 9.6% month-to-month. Over the period under review, the average export prices hit record highs at $4,391 per ton in July 2022; however, from August 2022 to June 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In June 2023, the country with the highest price was Japan ($4,136 per ton), while the average price for exports to Iraq ($2,394 per ton) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-0.4%), while the prices for the other major destinations experienced a decline.
Imports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore
In 2022, imports of powdered unsweetened milk and cream of fat weight content over 1.5% into Singapore dropped to 114K tons, with a decrease of -1.9% compared with the year before. In general, imports showed a perceptible decrease. The most prominent rate of growth was recorded in 2021 with an increase of 6% against the previous year.
In value terms, imports of powdered unsweetened milk and cream of fat weight content over 1.5% expanded rapidly to $453M in 2022. The total import value increased at an average annual rate of +6.2% 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 2021 with an increase of 21% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 123 | 122 | 143 | 162 | 9.6% |
| Australia | 13.9 | 9.1 | 17.3 | 15.3 | 3.3% |
| Netherlands | 11.3 | 11.7 | 12.1 | 11.8 | 1.5% |
| Argentina | N/A | N/A | 2.7 | 6.6 | 144.4% |
| Denmark | 5.6 | 4.8 | 5.4 | 6.0 | 2.3% |
| Uruguay | 7.9 | 3.5 | 4.0 | 5.3 | -12.5% |
| France | 4.6 | 4.9 | 3.0 | 1.9 | -25.5% |
| United States | 4.4 | 3.1 | 1.8 | 1.2 | -35.2% |
| Others | 207 | 189 | 230 | 243 | 5.5% |
| Total | 378 | 348 | 419 | 453 | 6.2% |
Top Suppliers of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% to Singapore in 2022:
- New Zealand (42.2K tons)
- Australia (4.7K tons)
- Netherlands (2.2K tons)
- Uruguay (1.5K tons)
- Argentina (1.5K tons)
- Denmark (1.1K tons)
- United States (0.4K tons)
- France (0.3K tons)
Exports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore
In 2022, the amount of powdered unsweetened milk and cream of fat weight content over 1.5% exported from Singapore amounted to 75K tons, growing by 8.4% on the previous year's figure. Over the period under review, exports, however, recorded a deep downturn. The growth pace was the most rapid in 2021 when exports increased by 83%.
In value terms, exports of powdered unsweetened milk and cream of fat weight content over 1.5% skyrocketed to $292M in 2022. The total export value increased at an average annual rate of +6.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 75.3 | 72.9 | 65.5 | 74.6 | -0.3% |
| Bangladesh | 1.7 | 2.1 | 4.8 | 18.4 | 121.2% |
| Philippines | 6.2 | 1.8 | 6.2 | 8.5 | 11.1% |
| Malaysia | 5.9 | 6.2 | 6.8 | 8.2 | 11.6% |
| Saudi Arabia | 4.4 | 4.5 | 5.8 | 8.1 | 22.6% |
| Vietnam | 7.5 | 1.7 | 5.6 | 5.0 | -12.6% |
| United Arab Emirates | 0.8 | 1.0 | 1.7 | 4.8 | 81.7% |
| Qatar | 3.1 | 3.2 | 3.2 | 4.7 | 14.9% |
| Egypt | 4.0 | 2.9 | 5.8 | 4.3 | 2.4% |
| Cameroon | 2.9 | 3.6 | 0.4 | 0.9 | -32.3% |
| Others | 129 | 114 | 118 | 154 | 6.1% |
| Total | 240 | 213 | 224 | 292 | 6.8% |
Top Export Markets for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% from Singapore in 2022:
- Japan (18.5K tons)
- Bangladesh (4.7K tons)
- Malaysia (2.3K tons)
- Philippines (2.2K tons)
- Saudi Arabia (2.2K tons)
- Egypt (1.6K tons)
- United Arab Emirates (1.3K tons)
- Vietnam (1.3K tons)
- Qatar (1.1K tons)
- Cameroon (0.3K tons)
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