Non-Liquid Margarine Price in Singapore - 2022
Contents:
- Non-Liquid Margarine Price in Singapore (FOB) - 2022
- Non-Liquid Margarine Price in Singapore (CIF) - 2022
- Non-Liquid Margarine Exports in Singapore
- Non-Liquid Margarine Imports in Singapore
Non-Liquid Margarine Price in Singapore (FOB) - 2022
In September 2022, the average non-liquid margarine export price amounted to $4,165 per ton, waning by -13.5% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2022 an increase of 53% month-to-month. The export price peaked at $5,737 per ton in June 2022; however, from July 2022 to September 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($9,106 per ton), while the average price for exports to Sri Lanka ($2,736 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.
Non-Liquid Margarine Price in Singapore (CIF) - 2022
In September 2022, the average non-liquid margarine import price amounted to $3,092 per ton, which is down by -24.3% against the previous month. Overall, the import price recorded a pronounced downturn. The pace of growth appeared the most rapid in June 2022 when the average import price increased by 80% m-o-m. As a result, import price attained the peak level of $7,028 per ton. From July 2022 to September 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was the United States ($15,515 per ton), while the price for Malaysia ($2,421 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 the United States (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Non-Liquid Margarine Exports in Singapore
In 2022, non-liquid margarine exports from Singapore rose significantly to 11K tons, surging by 5.3% compared with 2021. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 7.5% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, non-liquid margarine exports skyrocketed to $39M in 2022. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +13.2% 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 +48.0% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Non-Liquid Margarine in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 9.4 | 9.1 | 8.1 | 10.4 | 3.4% |
| Indonesia | 2.0 | 3.2 | 5.6 | 7.3 | 54.0% |
| Taiwan (Chinese) | 4.0 | 3.5 | 3.2 | 4.9 | 7.0% |
| Malaysia | 2.9 | 2.6 | 3.1 | 4.3 | 14.0% |
| South Korea | 3.3 | 3.5 | 4.0 | 4.2 | 8.4% |
| Hong Kong SAR | 1.6 | 1.5 | 2.0 | 2.7 | 19.1% |
| Philippines | 0.8 | 0.6 | 0.8 | 1.6 | 26.0% |
| Vietnam | 1.3 | 1.1 | 1.2 | 1.4 | 2.5% |
| Sri Lanka | 0.5 | 0.5 | 0.8 | 0.5 | 0.0% |
| Others | 1.0 | 0.8 | 1.3 | 1.6 | 17.0% |
| Total | 26.8 | 26.3 | 30.2 | 39.0 | 13.3% |
Top Export Markets for Non-Liquid Margarine from Singapore in 2022:
- Taiwan (Chinese) (2.1K tons)
- Malaysia (1.9K tons)
- South Korea (1.8K tons)
- Japan (1.6K tons)
- Hong Kong SAR (1.0K tons)
- Indonesia (0.9K tons)
- Philippines (0.6K tons)
- Vietnam (0.6K tons)
- Sri Lanka (0.3K tons)
Non-Liquid Margarine Imports in Singapore
For the fourth year in a row, Singapore recorded growth in overseas purchases of non-liquid margarine, which increased by 6.7% to 6.4K tons in 2022. The total import volume increased at an average annual rate of +8.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 17% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.
In value terms, non-liquid margarine imports skyrocketed to $22M in 2022. In general, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 44%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Non-Liquid Margarine in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 6.2 | 8.1 | 12.4 | 16.5 | 38.6% |
| Australia | 1.1 | 2.5 | 2.4 | 2.3 | 27.9% |
| United States | 0.8 | 0.7 | 0.8 | 1.2 | 14.5% |
| Japan | 0.5 | 0.7 | 1.9 | 1.0 | 26.0% |
| Norway | 0.2 | 0.2 | 0.3 | 0.2 | 0.0% |
| Indonesia | 0.1 | N/A | 0.2 | 0.1 | 0.0% |
| Others | 0.6 | 0.9 | 0.8 | 0.7 | 5.3% |
| Total | 9.6 | 13.1 | 18.9 | 22.1 | 32.0% |
Top Suppliers of Non-Liquid Margarine to Singapore in 2022:
- Malaysia (5264.4 tons)
- Australia (468.9 tons)
- Japan (195.4 tons)
- United States (122.3 tons)
- Norway (108.0 tons)
- Indonesia (67.6 tons)
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