Price for Soya Beans; Other than Seed, Whether or Not Broken in Singapore - 2023
Contents:
- Price for Soya Beans; Other than Seed, Whether or Not Broken in Singapore (CIF) - 2023
- Price for Soya Beans; Other than Seed, Whether or Not Broken in Singapore (FOB) - 2022
- Imports of Soya Beans; Other than Seed, Whether or Not Broken in Singapore
- Exports of Soya Beans; Other than Seed, Whether or Not Broken in Singapore
Price for Soya Beans; Other than Seed, Whether or Not Broken in Singapore (CIF) - 2023
In September 2022, the average import price for soya beans; other than seed, whether or not brokens amounted to $1,227 per ton, dropping by -4.3% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in August 2022 an increase of 2.8% month-to-month. As a result, import price reached the peak level of $1,282 per ton, and then reduced in the following month.
Average prices varied noticeably amongst the major supplying countries. In September 2022, the country with the highest price was Canada ($1,266 per ton), while the price for Malaysia ($1,137 per ton) was amongst the lowest.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Soya Beans; Other than Seed, Whether or Not Broken in Singapore (FOB) - 2022
In 2022, the average export price for soya beans; other than seed, whether or not brokens amounted to $991 per ton, with an increase of 20% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 81% against the previous year. As a result, the export price reached the peak level of $1,074 per ton. From 2017 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($1,410 per ton), while the average price for exports to Myanmar ($902 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 Indonesia (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Soya Beans; Other than Seed, Whether or Not Broken in Singapore
In 2022, the amount of soya beans; other than seed, whether or not brokens imported into Singapore amounted to 23K tons, rising by 6.8% on the year before. The total import volume increased at an average annual rate of +3.1% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of soya beans; other than seed, whether or not brokens surged to $21M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +14.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.3% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 25% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Soya Beans; Other than Seed, Whether or Not Broken in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 11.1 | 10.8 | 13.1 | 12.9 | 5.1% |
| Malaysia | 1.5 | 2.0 | 2.8 | 4.9 | 48.4% |
| United States | 0.7 | 0.9 | 1.2 | 2.3 | 48.7% |
| Others | 0.6 | 0.5 | 0.6 | 0.6 | 0.0% |
| Total | 13.9 | 14.2 | 17.8 | 20.7 | 14.2% |
Top Suppliers of Soya Beans; Other than Seed, Whether or Not Broken to Singapore in 2022:
- Canada (14.8K tons)
- Malaysia (5.2K tons)
- United States (2.8K tons)
Exports of Soya Beans; Other than Seed, Whether or Not Broken in Singapore
In 2022, the amount of soya beans; other than seed, whether or not brokens exported from Singapore surged to 951 tons, picking up by 102% compared with 2021 figures. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 140%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, exports of soya beans; other than seed, whether or not brokens surged to $942K in 2022. Overall, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Soya Beans; Other than Seed, Whether or Not Broken in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Myanmar | N/A | 25.3 | 180 | 478 | 334.7% |
| Malaysia | 49.3 | 214 | 180 | 269 | 76.0% |
| Brunei Darussalam | 17.2 | 20.3 | 9.1 | 76.1 | 64.2% |
| Hong Kong SAR | 33.3 | 12.4 | N/A | 55.9 | 18.8% |
| Macao SAR | N/A | N/A | N/A | 32.3 | 0% |
| Japan | N/A | 19.8 | N/A | N/A | 0% |
| Others | 75.9 | 39.5 | 18.9 | 29.9 | -26.7% |
| Total | 176 | 332 | 388 | 942 | 74.9% |
Top Export Markets for Soya Beans; Other than Seed, Whether or Not Broken from Singapore in 2022:
- Myanmar (530.1 tons)
- Malaysia (250.3 tons)
- Brunei Darussalam (63.2 tons)
- Hong Kong SAR (56.6 tons)
- Macao SAR (27.0 tons)
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This report provides an in-depth analysis of the soya bean market in Singapore.
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This report provides an in-depth analysis of the global soya bean market.
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This report provides an in-depth analysis of the global soya bean market.
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