Singapore - Millet - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMillet Price in Singapore - 2022
Contents:
- Millet Price in Singapore (CIF) - 2022
- Millet Price in Singapore (FOB) - 2022
- Millet Imports in Singapore
- Millet Exports in Singapore
Millet Price in Singapore (CIF) - 2022
In 2022, the average millet import price amounted to $1,245 per ton, approximately equating the previous year. Over the period under review, the import price, however, enjoyed pronounced growth. The pace of growth appeared the most rapid in 2015 when the average import price increased by 100%. The import price peaked at $2,051 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
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 China ($1,438 per ton), while the price for the United States ($574 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+10.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Millet Price in Singapore (FOB) - 2022
The average millet export price stood at $1,265 per ton in 2022, increasing by 59% against the previous year. In general, the export price showed a modest increase. The growth pace was the most rapid in 2018 an increase of 136% against the previous year. Over the period under review, the average export prices reached the peak figure at $1,638 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($2,585 per ton), while the average price for exports to Malaysia ($588 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 Cambodia (+10.7%), while the prices for the other major destinations experienced mixed trend patterns.
Millet Imports in Singapore
In 2022, the amount of millet imported into Singapore reached 379 tons, increasing by 2.2% against 2021. In general, total imports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +20.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 49%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.
In value terms, millet imports totaled $472K in 2022. Over the period under review, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +80.8% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 40% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Millet in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 158 | 186 | 275 | 318 | 26.3% |
| India | 51.5 | 112 | 126 | 102 | 25.6% |
| United States | 19.2 | 10.9 | 36.4 | 42.3 | 30.1% |
| Others | 32.9 | 26.8 | 31.2 | 9.2 | -34.6% |
| Total | 261 | 335 | 469 | 472 | 21.8% |
Top Suppliers of Millet to Singapore in 2022:
- China (221.3 tons)
- India (80.3 tons)
- United States (73.6 tons)
Millet Exports in Singapore
In 2022, shipments abroad of millet decreased by -24.8% to 2.4 tons, falling for the second consecutive year after two years of growth. Overall, exports showed a precipitous decrease. The pace of growth appeared the most rapid in 2020 with an increase of 65%. As a result, the exports reached the peak of 14 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, millet exports soared to $3.1K in 2022. Over the period under review, exports saw a significant curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 58% against the previous year. As a result, the exports attained the peak of $12K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Millet in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | 2.0 | 3.3 | 1.3 | 2.1 | 1.6% |
| Malaysia | 1.7 | 3.8 | 0.4 | 0.9 | -19.1% |
| Indonesia | 2.4 | 2.5 | N/A | 0.1 | -65.3% |
| Thailand | N/A | 1.9 | N/A | N/A | 0% |
| Brunei Darussalam | 0.4 | 0.7 | 0.7 | N/A | 32.3% |
| Others | 1.3 | 0.2 | 0.1 | N/A | -72.3% |
| Total | 7.8 | 12.4 | 2.6 | 3.1 | -26.5% |
Top Export Markets for Millet from Singapore in 2022:
- Malaysia (1480.0 kg)
- Cambodia (810.0 kg)
- Indonesia (141.0 kg)
This report provides an in-depth analysis of the millet 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 79 - Millet
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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