Price for Fish Meal; Fit for Human Consumption in Singapore - 2022

Price for Fish Meal; Fit for Human Consumption in Singapore (CIF) - 2022

The average import price for fish meal; fit for human consumptia stood at $17,937 per ton in 2022, with a decrease of -17.2% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for fish meal; fit for human consumptia increased by +37.3% against 2018 indices. The growth pace was the most rapid in 2016 an increase of 73%. As a result, import price reached the peak level of $23,554 per ton. From 2017 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($22,297 per ton), while the price for Malaysia ($2,478 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Fish Meal; Fit for Human Consumption in Singapore (FOB) - 2022

In 2022, the average export price for fish meal; fit for human consumptia amounted to $26,689 per ton, which is down by -5.2% against the previous year. Over the period under review, the export price, however, saw temperate growth. The pace of growth was the most pronounced in 2018 an increase of 110%. As a result, the export price reached the peak level of $28,264 per ton. From 2019 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Indonesia.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to +19.5% per year.

Imports of Fish Meal; Fit for Human Consumption in Singapore

In 2022, approx. 25 tons of fish meal; fit for human consumptia were imported into Singapore; jumping by 58% on 2021 figures. Overall, imports recorded a measured expansion.

In value terms, imports of fish meal; fit for human consumptia surged to $443K in 2022. Over the period under review, total imports indicated a perceptible increase from 2019 to 2022: its value increased at an average annual rate of +2.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.2% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 32% against the previous year. As a result, imports reached the peak of $548K. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Import of Fish Meal; Fit for Human Consumption in Singapore (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Norway	302	482	257	380	8.0%
France	84.7	48.0	1.6	49.1	-16.6%
Malaysia	13.4	17.0	3.5	12.4	-2.6%
Germany	N/A	N/A	64.9	N/A	0%
Vietnam	12.3	0.3	N/A	N/A	-97.6%
Others	3.1	1.4	10.7	1.5	-21.5%
Total	415	548	338	443	2.2%

Top Suppliers of Fish Meal; Fit for Human Consumption to Singapore in 2022:

Norway (17.0 tons)
Malaysia (5.0 tons)
France (2.6 tons)

Exports of Fish Meal; Fit for Human Consumption in Singapore

In 2022, the amount of fish meal; fit for human consumptia exported from Singapore dropped dramatically to 470 kg, shrinking by -41.1% compared with the year before. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 514%. As a result, the exports reached the peak of 798 kg, and then contracted rapidly in the following year.

In value terms, exports of fish meal; fit for human consumptia fell notably to $13K in 2022. Over the period under review, exports, however, saw a temperate increase. The pace of growth was the most pronounced in 2021 with an increase of 753% against the previous year. As a result, the exports reached the peak of $22K, and then contracted notably in the following year.