Report Update: May 1, 2024

Singapore - Margarine And Shortening - Market Analysis, Forecast, Size, Trends and Insights

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Margarine and Shortening Price in Singapore - 2022

Margarine and Shortening Price in Singapore (FOB) - 2022

In September 2022, the average margarine and shortening export price amounted to $2,800 per ton, with a decrease of -5.4% against the previous month. Overall, export price indicated mild growth from September 2021 to September 2022: its price increased at an average monthly rate of +1.1% 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, margarine and shortening export price decreased by -8.0% against April 2022 indices. The pace of growth appeared the most rapid in January 2022 an increase of 68% month-to-month. The export price peaked at $3,743 per ton in March 2022; however, from April 2022 to September 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In September 2022, the country with the highest price was Japan ($7,304 per ton), while the average price for exports to Pakistan ($1,595 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 Japan (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Margarine and Shortening Price in Singapore (CIF) - 2022

The average margarine and shortening import price stood at $2,363 per ton in September 2022, dropping by -19.1% against the previous month. Overall, the import price saw a mild contraction. The pace of growth appeared the most rapid in January 2022 when the average import price increased by 54% m-o-m. Over the period under review, average import prices hit record highs at $3,444 per ton in May 2022; however, from June 2022 to September 2022, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($3,011 per ton), while the price for Indonesia stood at $1,729 per ton.

From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.7%).

Margarine and Shortening Exports in Singapore

Margarine and shortening exports from Singapore skyrocketed to 79K tons in 2022, jumping by 26% against 2021. Overall, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +18.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 43% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, margarine and shortening exports skyrocketed to $173M in 2022. Over the period under review, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Margarine and Shortening in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	0.2	1.0	21.6	37.7	473.4%
South Korea	17.0	14.7	18.1	25.3	14.2%
Japan	23.2	19.3	14.0	23.7	0.7%
Thailand	8.0	9.8	11.1	13.1	17.9%
Indonesia	4.8	5.4	7.9	11.6	34.2%
Malaysia	6.7	5.6	6.4	8.8	9.5%
Taiwan (Chinese)	6.2	5.5	5.8	7.3	5.6%
Saudi Arabia	1.4	4.7	4.0	6.2	64.2%
India	2.4	2.4	4.1	4.5	23.3%
Algeria	0.6	0.2	1.7	3.7	83.4%
Philippines	1.9	1.6	2.2	3.1	17.7%
Vietnam	1.6	1.2	2.0	3.0	23.3%
Pakistan	8.0	5.2	1.2	2.8	-29.5%
Others	16.8	18.6	21.2	22.0	9.4%
Total	98.8	95.2	121	173	20.5%

Top Export Markets for Margarine and Shortening from Singapore in 2022:

China (28.4K tons)
South Korea (11.0K tons)
Japan (4.9K tons)
Thailand (4.8K tons)
Malaysia (3.3K tons)
Taiwan (Chinese) (3.2K tons)
Algeria (2.9K tons)
Indonesia (2.4K tons)
Saudi Arabia (2.1K tons)
Pakistan (1.6K tons)
Vietnam (1.6K tons)
Philippines (1.4K tons)
India (1.4K tons)

Margarine and Shortening Imports in Singapore

In 2022, imports of margarine and shortening into Singapore soared to 64K tons, picking up by 44% compared with the year before. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 110%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, margarine and shortening imports soared to $124M in 2022. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 58% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Margarine and Shortening in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	0.6	2.1	29.2	57.9	358.7%
Malaysia	24.8	23.7	29.2	44.5	21.5%
Others	28.0	24.6	21.5	21.4	-8.6%
Total	53.5	50.5	79.8	124	32.3%

Top Suppliers of Margarine and Shortening to Singapore in 2022:

Indonesia (43.0K tons)
Malaysia (18.4K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the margarine and shortening market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1242 - Margarine and Shortening

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023