Price for Cereals; Maize (Corn), Other than Seed in Singapore - 2022
Contents:
- Price for Cereals; Maize (Corn), Other than Seed in Singapore (CIF) - 2022
- Price for Cereals; Maize (Corn), Other than Seed in Singapore (FOB) - 2022
- Imports of Cereals; Maize (Corn), Other than Seed in Singapore
- Exports of Cereals; Maize (Corn), Other than Seed in Singapore
Price for Cereals; Maize (Corn), Other than Seed in Singapore (CIF) - 2022
The average import price for cereals; maize (corn), other than seeds stood at $509 per ton in 2022, increasing by 19% against the previous year. Overall, the import price posted prominent growth. The pace of growth was the most pronounced in 2020 when the average import price increased by 27% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.
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 the United States ($1,504 per ton), while the price for Myanmar ($245 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cereals; Maize (Corn), Other than Seed in Singapore (FOB) - 2022
In 2022, the average export price for cereals; maize (corn), other than seeds amounted to $3,937 per ton, growing by 133% against the previous year. In general, the export price recorded a prominent expansion. The growth pace was the most rapid in 2021 an increase of 292%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($23,247 per ton), while the average price for exports to Indonesia ($555 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 China (+52.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Cereals; Maize (Corn), Other than Seed in Singapore
After two years of decline, purchases abroad of cereals; maize (corn), other than seeds increased by 20% to 9K tons in 2022. Overall, imports, however, saw a precipitous decline.
In value terms, imports of cereals; maize (corn), other than seeds skyrocketed to $4.6M in 2022. Over the period under review, imports, however, continue to indicate a abrupt setback.
| Import of Cereals; Maize (Corn), Other than Seed in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 4,055 | 1,413 | 2,040 | 2,781 | -11.8% |
| Indonesia | 458 | 383 | 339 | 450 | -0.6% |
| United States | 355 | 301 | 295 | 430 | 6.6% |
| India | 25.6 | 50.1 | 45.3 | 310 | 129.6% |
| South Africa | 106 | 30.9 | 73.6 | 123 | 5.1% |
| Brazil | 224 | 257 | N/A | N/A | 14.7% |
| Others | 170 | 197 | 429 | 514 | 44.6% |
| Total | 5,393 | 2,632 | 3,221 | 4,608 | -5.1% |
Top Suppliers of Cereals; Maize (Corn), Other than Seed to Singapore in 2022:
- Malaysia (6.8K tons)
- India (0.9K tons)
- Indonesia (0.6K tons)
- United States (0.3K tons)
- South Africa (0.2K tons)
Exports of Cereals; Maize (Corn), Other than Seed in Singapore
For the third consecutive year, Singapore recorded decline in overseas shipments of cereals; maize (corn), other than seeds, which decreased by -46.8% to 39 tons in 2022. Overall, exports saw a significant decrease. The smallest decline of -38.1% was in 2020.
In value terms, exports of cereals; maize (corn), other than seeds skyrocketed to $152K in 2022. Over the period under review, exports showed a sharp reduction.
| Export of Cereals; Maize (Corn), Other than Seed in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Brunei Darussalam | 43.9 | 15.0 | 34.1 | 46.7 | 2.1% |
| China | N/A | N/A | N/A | 32.3 | 0% |
| Hong Kong SAR | 2.5 | 1.8 | 4.4 | 19.1 | 97.0% |
| South Korea | N/A | N/A | N/A | 15.5 | 0% |
| Cambodia | 4.4 | 3.1 | 15.9 | 5.6 | 8.4% |
| Malaysia | 1.2 | 5.9 | 21.8 | 4.3 | 53.0% |
| Indonesia | 0.5 | 5.3 | 3.4 | 2.0 | 58.7% |
| New Zealand | 26.5 | N/A | N/A | N/A | 0% |
| Vietnam | 137 | 23.5 | 0.1 | N/A | -97.3% |
| India | 196 | 156 | N/A | N/A | -20.4% |
| Oman | N/A | 108 | N/A | N/A | 0% |
| Others | 5.2 | 0.4 | 43.1 | 26.3 | 71.7% |
| Total | 418 | 319 | 123 | 152 | -28.6% |
Top Export Markets for Cereals; Maize (Corn), Other than Seed from Singapore in 2022:
- Brunei Darussalam (19.6 tons)
- Malaysia (4.1 tons)
- Indonesia (3.6 tons)
- South Korea (3.0 tons)
- Hong Kong SAR (2.6 tons)
- Cambodia (1.5 tons)
- China (1.4 tons)
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