Price for Protein; Concentrates and Textured Protein Substances in Singapore - 2023
Contents:
- Price for Protein; Concentrates and Textured Protein Substances in Singapore (FOB) - 2022
- Price for Protein; Concentrates and Textured Protein Substances in Singapore (CIF) - 2023
- Exports of Protein; Concentrates and Textured Protein Substances in Singapore
- Imports of Protein; Concentrates and Textured Protein Substances in Singapore
Price for Protein; Concentrates and Textured Protein Substances in Singapore (FOB) - 2022
The average export price for protein; concentrates and textured protein substanceses stood at $12,639 per ton in 2022, jumping by 20% against the previous year. Over the period under review, the export price enjoyed a strong expansion. The pace of growth appeared the most rapid in 2019 when the average export price increased by 80% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($18,508 per ton), while the average price for exports to China ($1,117 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 Malaysia (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Protein; Concentrates and Textured Protein Substances in Singapore (CIF) - 2023
In June 2023, the average import price for protein; concentrates and textured protein substanceses amounted to $7,349 per ton, reducing by -21.9% against the previous month. Over the period under review, import price indicated measured growth from June 2022 to June 2023: its price increased at an average monthly rate of +3.8% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, import price for protein; concentrates and textured protein substanceses decreased by -21.9% against May 2023 indices. The growth pace was the most rapid in July 2022 when the average import price increased by 42% m-o-m. The import price peaked at $9,414 per ton in May 2023, and then contracted notably in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Poland ($15,737 per ton), while the price for China ($1,881 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 Poland (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Protein; Concentrates and Textured Protein Substances in Singapore
In 2022, overseas shipments of protein; concentrates and textured protein substanceses decreased by -4.5% to 4K tons, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +5.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 32%. As a result, the exports attained the peak of 4.4K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of protein; concentrates and textured protein substanceses rose rapidly to $50M in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 129% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the near future.
| Export of Protein; Concentrates and Textured Protein Substances in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 7.2 | 37.1 | 36.3 | 32.7 | 65.6% |
| Malaysia | 0.9 | 0.7 | 2.5 | 8.8 | 113.8% |
| Indonesia | 2.0 | 0.6 | 0.9 | 3.3 | 18.2% |
| South Korea | 2.0 | 0.8 | 0.1 | 1.3 | -13.4% |
| Israel | 0.3 | 0.6 | 1.2 | 1.2 | 58.7% |
| Hong Kong SAR | 0.7 | 0.3 | 0.2 | 0.7 | 0.0% |
| Brunei Darussalam | 0.3 | 0.6 | 0.6 | 0.4 | 10.1% |
| Netherlands | 2.1 | 2.2 | 0.1 | 0.2 | -54.3% |
| China | 1.0 | 0.3 | N/A | 0.1 | -53.6% |
| Others | 2.8 | 1.3 | 1.8 | 1.4 | -20.6% |
| Total | 19.4 | 44.3 | 43.9 | 50.0 | 37.1% |
Top Export Markets for Protein; Concentrates and Textured Protein Substances from Singapore in 2022:
- Japan (1766.8 tons)
- Israel (572.7 tons)
- Malaysia (519.2 tons)
- Indonesia (228.5 tons)
- Hong Kong SAR (212.5 tons)
- China (126.1 tons)
- Brunei Darussalam (114.9 tons)
- Netherlands (74.0 tons)
- South Korea (60.5 tons)
Imports of Protein; Concentrates and Textured Protein Substances in Singapore
In 2022, approx. 7.3K tons of protein; concentrates and textured protein substanceses were imported into Singapore; increasing by 67% on 2021 figures. Over the period under review, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 77% against the previous year. As a result, imports attained the peak of 7.9K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of protein; concentrates and textured protein substanceses skyrocketed to $48M in 2022. Overall, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Protein; Concentrates and Textured Protein Substances in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 7.2 | 28.3 | 4.6 | 22.7 | 46.6% |
| United States | 8.0 | 4.9 | 7.4 | 8.5 | 2.0% |
| Malaysia | 5.7 | 6.1 | 4.8 | 4.7 | -6.2% |
| Poland | N/A | N/A | 1.2 | 3.5 | 191.7% |
| China | 0.8 | 1.3 | 2.3 | 3.0 | 55.4% |
| Taiwan (Chinese) | 2.0 | 2.0 | 1.9 | 1.6 | -7.2% |
| Lithuania | N/A | N/A | N/A | 1.0 | 0% |
| Others | 3.1 | 1.4 | 2.4 | 2.3 | -9.5% |
| Total | 26.8 | 44.2 | 24.7 | 47.5 | 21.0% |
Top Suppliers of Protein; Concentrates and Textured Protein Substances to Singapore in 2022:
- United Kingdom (2984.8 tons)
- Malaysia (1334.5 tons)
- China (1164.6 tons)
- United States (589.4 tons)
- Poland (522.7 tons)
- Taiwan (Chinese) (376.1 tons)
- Lithuania (133.5 tons)
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