Price for Cumin Seeds, Crushed or Ground in Singapore - 2022

Contents:

1. Price for Cumin Seeds, Crushed or Ground in Singapore (CIF) - 2022
2. Price for Cumin Seeds, Crushed or Ground in Singapore (FOB) - 2022
3. Imports of Cumin Seeds, Crushed or Ground in Singapore
4. Exports of Cumin Seeds, Crushed or Ground in Singapore

Price for Cumin Seeds, Crushed or Ground in Singapore (CIF) - 2022

In September 2022, the average import price for cumin seeds, crushed or ground amounted to $4,536 per ton, declining by -9.8% against the previous month. Overall, the import price, however, enjoyed notable growth. The most prominent rate of growth was recorded in May 2022 when the average import price increased by 50% against the previous month. Over the period under review, average import prices attained the peak figure at $7,057 per ton in July 2022; however, from August 2022 to September 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In September 2022, the highest price was recorded for prices from China ($6,135 per ton) and Bangladesh ($4,408 per ton), while the price for Malaysia ($4,170 per ton) and India ($4,382 per ton) were amongst the lowest.

From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by India (+6.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Cumin Seeds, Crushed or Ground in Singapore (FOB) - 2022

The average export price for cumin seeds, crushed or ground stood at $4,448 per ton in 2022, which is down by -14.1% against the previous year. In general, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cumin seeds, crushed or ground export price increased by +77.9% against 2016 indices. The growth pace was the most rapid in 2017 when the average export price increased by 53%. Over the period under review, the average export prices reached the peak figure at $5,179 per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($7,049 per ton), while the average price for exports to New Zealand ($2,251 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 Malaysia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cumin Seeds, Crushed or Ground in Singapore

In 2022, approx. 199 tons of cumin seeds, crushed or ground were imported into Singapore; declining by -10.4% compared with the previous year's figure. In general, imports saw a pronounced contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 21%.

In value terms, cumin seeds, crushed or ground imports expanded markedly to $700K in 2022. The total import value increased at an average annual rate of +3.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 12%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Top Suppliers of Cumin Seeds, Crushed or Ground to Singapore in 2022:

1. India (130.3 tons)
2. Bangladesh (51.0 tons)
3. Malaysia (8.1 tons)
4. China (7.0 tons)

Exports of Cumin Seeds, Crushed or Ground in Singapore

In 2022, overseas shipments of cumin seeds, crushed or ground decreased by -51% to 4.2 tons, falling for the second consecutive year after two years of growth. In general, exports showed a dramatic curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 35%. As a result, the exports reached the peak of 29 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, cumin seeds, crushed or ground exports shrank dramatically to $19K in 2022. Over the period under review, exports saw a precipitous slump. The growth pace was the most rapid in 2020 with an increase of 12% against the previous year. As a result, the exports reached the peak of $100K. From 2021 to 2022, the growth of the exports remained at a lower figure.

Top Export Markets for Cumin Seeds, Crushed or Ground from Singapore in 2022:

1. New Zealand (1250.0 kg)
2. Vietnam (1215.0 kg)
3. Maldives (1050.0 kg)
4. Cambodia (324.0 kg)
5. Malaysia (200.0 kg)
6. Philippines (105.0 kg)

Source: IndexBox Market Intelligence Platform