Price for Crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containers in Singapore - 2023

Contents:

1. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Singapore (CIF) - 2022
2. Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Singapore (FOB) - 2022
3. Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Singapore
4. Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Singapore

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Singapore (CIF) - 2022

In 2022, the average import price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses amounted to $7,651 per ton, rising by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2013 when the average import price increased by 17% against the previous year. The import price peaked at $8,495 per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($9,662 per ton), while the price for Indonesia ($4,388 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Singapore (FOB) - 2022

The average export price for crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses stood at $9,315 per ton in 2022, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2013 an increase of 39% against the previous year. Over the period under review, the average export prices attained the maximum at $11,174 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($13,720 per ton), while the average price for exports to Taiwan (Chinese) ($4,649 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 New Zealand (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Singapore

In 2022, the amount of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses imported into Singapore was estimated at 4.3K tons, with an increase of 13% on 2021. Overall, imports, however, continue to indicate a slight downturn.

In value terms, imports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses soared to $33M in 2022. In general, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers to Singapore in 2022:

1. China (1475.6 tons)
2. Vietnam (1458.1 tons)
3. Malaysia (719.4 tons)
4. Thailand (348.2 tons)
5. Indonesia (153.4 tons)

Exports of Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers in Singapore

For the third consecutive year, Singapore recorded decline in shipments abroad of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses, which decreased by -27.2% to 148 tons in 2022. In general, exports recorded a dramatic descent. The smallest decline of -11.1% was in 2021.

In value terms, exports of crustacean preparations; shrimps and prawns, prepared or preserved, not in airtight containerses plummeted to $1.4M in 2022. Over the period under review, exports saw a precipitous decline. The smallest decline of -16.8% was in 2020.

Top Export Markets for Crustacean Preparations; Shrimps and Prawns, Prepared or Preserved, Not in Airtight Containers from Singapore in 2022:

1. Brunei Darussalam (33.7 tons)
2. Malaysia (26.9 tons)
3. Qatar (21.4 tons)
4. Indonesia (10.8 tons)
5. Hong Kong SAR (10.2 tons)
6. Taiwan (Chinese) (7.5 tons)
7. Timor-Leste (7.1 tons)
8. New Zealand (4.0 tons)
9. Thailand (3.0 tons)
10. South Korea (3.0 tons)
11. Philippines (2.6 tons)
12. United Arab Emirates (2.5 tons)
13. Cambodia (2.5 tons)

Source: IndexBox Market Intelligence Platform