Shrimp Price in Singapore - 2022
Contents:
- Shrimp Price in Singapore (CIF) - 2022
- Shrimp Price in Singapore (FOB) - 2022
- Shrimp Imports in Singapore
- Shrimp Exports in Singapore
Shrimp Price in Singapore (CIF) - 2022
The average shrimp import price stood at $8,515 per ton in September 2022, remaining constant against the previous month. In general, import price indicated a measured increase from September 2021 to September 2022: its price increased at an average monthly rate of +4.0% 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, shrimp import price decreased by -0.8% against March 2022 indices. The pace of growth was the most pronounced in January 2022 when the average import price increased by 31% m-o-m. The import price peaked at $8,601 per ton in August 2022, and then fell slightly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Vietnam ($13,515 per ton), while the price for Indonesia ($6,577 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 Indonesia (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Price in Singapore (FOB) - 2022
In 2022, the average shrimp export price amounted to $9,586 per ton, remaining relatively unchanged against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shrimp export price decreased by -29.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 23%. As a result, the export price reached the peak level of $13,654 per ton. From 2019 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 Taiwan (Chinese) ($16,981 per ton), while the average price for exports to China ($5,521 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 (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Imports in Singapore
In 2022, approx. 26K tons of shrimps were imported into Singapore; surging by 2.6% on the previous year. The total import volume increased at an average annual rate of +3.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 6.7%. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, shrimp imports rose modestly to $149M in 2022. The total import value increased at an average annual rate of +3.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 21%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.
| Import of Shrimp in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 44.8 | 41.6 | 50.0 | 49.1 | 3.1% |
| China | 23.1 | 20.9 | 29.9 | 28.8 | 7.6% |
| Vietnam | 28.2 | 18.5 | 23.6 | 24.6 | -4.5% |
| Ecuador | 2.4 | 6.5 | 10.4 | 10.1 | 61.4% |
| Indonesia | 9.4 | 8.8 | 8.3 | 9.3 | -0.4% |
| Thailand | 13.0 | 7.8 | 6.4 | 9.0 | -11.5% |
| India | 4.4 | 1.4 | 4.2 | 4.1 | -2.3% |
| Others | 10.3 | 15.2 | 13.5 | 13.8 | 10.2% |
| Total | 136 | 121 | 146 | 149 | 3.1% |
Top Suppliers of Shrimp to Singapore in 2022:
- Malaysia (9.4K tons)
- China (5.9K tons)
- Indonesia (2.9K tons)
- Vietnam (2.9K tons)
- Ecuador (1.6K tons)
- Thailand (1.5K tons)
- India (0.6K tons)
Shrimp Exports in Singapore
In 2022, approx. 1.5K tons of shrimps were exported from Singapore; surging by 4% against the previous year. Over the period under review, exports posted a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 183% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, shrimp exports expanded significantly to $14M in 2022. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 137% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Shrimp in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 990 | 2,484 | 3,383 | 3,343 | 50.0% |
| Japan | 136 | 1,550 | 1,594 | 1,603 | 127.6% |
| Taiwan (Chinese) | 333 | 773 | 1,406 | 1,372 | 60.3% |
| Brunei Darussalam | 442 | 939 | 712 | 790 | 21.4% |
| United States | 226 | 405 | 714 | 748 | 49.0% |
| Mauritius | 437 | 712 | 484 | 600 | 11.1% |
| Hong Kong SAR | 370 | 670 | 503 | 570 | 15.5% |
| Vietnam | 125 | 1,097 | 439 | 518 | 60.6% |
| Bahrain | 55.1 | 337 | 400 | 390 | 92.0% |
| Timor-Leste | 11.1 | 71.5 | 212 | 207 | 165.2% |
| India | 233 | 237 | 198 | 199 | -5.1% |
| China | 156 | 259 | 105 | 193 | 7.4% |
| Indonesia | 68.5 | 205 | 134 | 189 | 40.3% |
| Others | 2,132 | 3,774 | 3,282 | 3,524 | 18.2% |
| Total | 5,714 | 13,515 | 13,567 | 14,246 | 35.6% |
Top Export Markets for Shrimp from Singapore in 2022:
- Malaysia (540.7 tons)
- Japan (152.5 tons)
- Brunei Darussalam (93.8 tons)
- Taiwan (Chinese) (80.8 tons)
- Vietnam (77.7 tons)
- Hong Kong SAR (70.8 tons)
- United States (56.4 tons)
- Mauritius (49.8 tons)
- Bahrain (42.2 tons)
- China (35.0 tons)
- Timor-Leste (32.6 tons)
- India (30.0 tons)
- Indonesia (29.9 tons)
583
This report provides an in-depth analysis of the market for crab and crab meat in Singapore.
632
This report provides an in-depth analysis of the frozen crustaceans market in Singapore.
187
This report provides an in-depth analysis of the crabs, not frozen market in Singapore.
283
This report provides an in-depth analysis of the frozen norway lobster market in Singapore.
401
This report provides an in-depth analysis of the market for frozen crab and crab meat in Singapore.
314
This report provides an in-depth analysis of the frozen lobster market in Singapore.
1854
This report provides an in-depth analysis of the global market for crab and crab meat.
1456
This report provides an in-depth analysis of the global frozen crustaceans market.
338
This report provides an in-depth analysis of the global crabs, not frozen market.
394
This report provides an in-depth analysis of the global frozen norway lobster market.
545
Explore the world's best import markets for crab and crab meat, including the United States, China, South Korea, and more. Discover key statistics and market insights.
916
In 2020, the production and export of frozen crab and crab meat declined worldwide; the fall in sales incurred by the closure of the HoReCa segment, however, was offset by the surge in demand from retail consumers. Global imports fell against previous year figures, but demand from the USA, a major importer, remained robust.
411
Explore the top import markets for frozen crustaceans, including the United States, China, and Japan. Find key statistics and insights on the global market for these delectable seafood delicacies.
2515
This year, the average annual shrimp price is forecast to soar by 7% y-o-y to $15 per kg. High freight rates, the rising cost of marine fuels and boosting global demand for crustaceans remain the key reasons for the price increases. In 2021, the average annual shrimp price ($12.7 per kg) was approximately 10% higher than those of 2020.
495
Explore the top import markets for Frozen Crab and Crab Meat, including the United States, Japan, China, and more. Discover key statistics and trends in the global crab meat industry.
130
Explore the top import markets for frozen lobster around the world and discover key statistics and trends in the global seafood industry.
1734
In value terms, molluscs imports amounted to $X in 2016. The total import value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern indicated some noticeable fluctuati...
1965
In value terms, molluscs exports amounted to $X in 2016. The total export value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern indicated some noticeable fluctuatio...
545
Explore the world's best import markets for crab and crab meat, including the United States, China, South Korea, and more. Discover key statistics and market insights.
916
In 2020, the production and export of frozen crab and crab meat declined worldwide; the fall in sales incurred by the closure of the HoReCa segment, however, was offset by the surge in demand from retail consumers. Global imports fell against previous year figures, but demand from the USA, a major importer, remained robust.
