Frozen Tilapia Fillets Price in Singapore - 2022
Contents:
- Frozen Tilapia Fillets Price in Singapore (CIF) - 2022
- Frozen Tilapia Fillets Price in Singapore (FOB) - 2022
- Frozen Tilapia Fillets Imports in Singapore
- Frozen Tilapia Fillets Exports in Singapore
Frozen Tilapia Fillets Price in Singapore (CIF) - 2022
In September 2022, the average frozen tilapia fillets import price amounted to $6,419 per ton, dropping by -14.8% against the previous month. In general, the import price, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in February 2022 when the average import price increased by 77% against the previous month. Over the period under review, average import prices reached the maximum at $10,429 per ton in May 2022; however, from June 2022 to September 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Indonesia ($12,010 per ton), while the price for Vietnam ($3,955 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 Malaysia (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Frozen Tilapia Fillets Price in Singapore (FOB) - 2022
The average frozen tilapia fillets export price stood at $3,184 per ton in 2022, increasing by 12% against the previous year. Over the period under review, the export price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 79% against the previous year. Over the period under review, the average export prices reached the peak figure at $6,789 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brunei Darussalam ($11,577 per ton), while the average price for exports to Malaysia stood at $2,761 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-4.6%), while the prices for the other major destinations experienced a decline.
Frozen Tilapia Fillets Imports in Singapore
After three years of growth, supplies from abroad of frozen tilapia fillets decreased by -6.9% to 787 tons in 2022. The total import volume increased at an average annual rate of +9.6% 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 22%.
In value terms, frozen tilapia fillets imports shrank to $3.4M in 2022. The total import value increased at an average annual rate of +1.0% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. As a result, imports attained the peak of $3.8M, and then declined in the following year.
| Import of Frozen Tilapia Fillets in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.1 | 1.0 | 1.9 | 1.7 | 15.6% |
| Indonesia | 1.8 | 1.8 | 1.6 | 1.5 | -5.9% |
| Malaysia | 0.3 | 0.2 | 0.3 | 0.2 | -12.6% |
| Others | N/A | N/A | 0.1 | N/A | 0% |
| Total | 3.3 | 3.1 | 3.8 | 3.4 | 1.0% |
Top Suppliers of Frozen Tilapia Fillets to Singapore in 2022:
- China (486.1 tons)
- Indonesia (230.1 tons)
- Malaysia (62.6 tons)
Frozen Tilapia Fillets Exports in Singapore
In 2022, approx. 115 tons of frozen tilapia fillets were exported from Singapore; growing by 11% on the year before. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 348%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, frozen tilapia fillets exports surged to $365K in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 196% against the previous year. As a result, the exports attained the peak of $435K. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Frozen Tilapia Fillets in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 111 | 176 | 89.0 | 301 | 39.4% |
| Brunei Darussalam | 24.8 | 20.4 | 26.1 | 63.7 | 37.0% |
| China | N/A | N/A | 153 | N/A | 0% |
| United Kingdom | N/A | 226 | N/A | N/A | 0% |
| Indonesia | N/A | 13.2 | 24.8 | N/A | 87.9% |
| Others | 11.5 | N/A | 1.6 | N/A | -62.7% |
| Total | 147 | 435 | 294 | 365 | 35.4% |
Top Export Markets for Frozen Tilapia Fillets from Singapore in 2022:
- Malaysia (109.1 tons)
- Brunei Darussalam (5.5 tons)
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