Price for Frozen Sheep (Including Lamb) Boneless Cuts in Singapore - 2023
Contents:
- Price for Frozen Sheep (Including Lamb) Boneless Cuts in Singapore (CIF) - 2023
- Price for Frozen Sheep (Including Lamb) Boneless Cuts in Singapore (FOB) - 2022
- Imports of Frozen Sheep (Including Lamb) Boneless Cuts in Singapore
- Exports of Frozen Sheep (Including Lamb) Boneless Cuts in Singapore
Price for Frozen Sheep (Including Lamb) Boneless Cuts in Singapore (CIF) - 2023
The average import price for frozen sheep (including lamb) boneless cutses stood at $6,245 per ton in June 2023, with an increase of 4.5% against the previous month. In general, the import price, however, continues to indicate a deep slump. Over the period under review, average import prices reached the peak figure at $13,109 per ton in June 2022; however, from July 2022 to June 2023, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Australia.
From June 2022 to June 2023, the rate of growth in terms of prices for Australia amounted to -5.9% per month.
Price for Frozen Sheep (Including Lamb) Boneless Cuts in Singapore (FOB) - 2022
In 2022, the average export price for frozen sheep (including lamb) boneless cutses amounted to $7,417 per ton, growing by 3.3% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 11%. The export price peaked at $8,133 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Timor-Leste ($14,834 per ton), while the average price for exports to Indonesia ($8,603 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 (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Frozen Sheep (Including Lamb) Boneless Cuts in Singapore
In 2022, approx. 2.9K tons of frozen sheep (including lamb) boneless cutses were imported into Singapore; increasing by 5.7% compared with the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 14% against the previous year. As a result, imports reached the peak of 3.4K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of frozen sheep (including lamb) boneless cutses expanded rapidly to $26M in 2022. The total import value increased at an average annual rate of +8.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when imports increased by 20% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in years to come.
| Import of Frozen Sheep (Including Lamb) Boneless Cuts in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 20.1 | 23.5 | 22.3 | 24.9 | 7.4% |
| Others | 0.4 | 1.1 | 0.6 | 0.9 | 31.0% |
| Total | 20.5 | 24.6 | 22.9 | 25.8 | 8.0% |
Top Suppliers of Frozen Sheep (Including Lamb) Boneless Cuts to Singapore in 2022:
- Australia (2.9K tons)
Exports of Frozen Sheep (Including Lamb) Boneless Cuts in Singapore
For the fourth consecutive year, Singapore recorded growth in overseas shipments of frozen sheep (including lamb) boneless cutses, which increased by 0.7% to 257 tons in 2022. Over the period under review, total exports indicated a significant increase from 2019 to 2022: its volume increased at an average annual rate of +24.5% 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 +92.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 90%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, exports of frozen sheep (including lamb) boneless cutses expanded slightly to $1.9M in 2022. In general, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +24.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +93.8% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 79%. The exports peaked in 2022 and are likely to continue growth in the near future.
| Export of Frozen Sheep (Including Lamb) Boneless Cuts in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 413 | 306 | 671 | 378 | -2.9% |
| Cambodia | 62.8 | 27.1 | 37.3 | 135 | 29.1% |
| Maldives | 71.0 | 37.9 | 288 | 88.0 | 7.4% |
| Thailand | 11.6 | 28.4 | 17.6 | 43.3 | 55.1% |
| Timor-Leste | 4.6 | 6.5 | 22.7 | 19.1 | 60.7% |
| Myanmar | N/A | N/A | N/A | 16.0 | 0% |
| Malaysia | 32.9 | 219 | 7.8 | 0.4 | -77.0% |
| Australia | N/A | 662 | 2,692 | N/A | 306.6% |
| Oman | 313 | 477 | N/A | N/A | 52.4% |
| Others | 75.8 | 2.2 | -1,900.4 | 1,228 | 153.0% |
| Total | 984 | 1,766 | 1,836 | 1,908 | 24.7% |
Top Export Markets for Frozen Sheep (Including Lamb) Boneless Cuts from Singapore in 2022:
- Indonesia (43.9 tons)
- Cambodia (11.2 tons)
- Maldives (6.6 tons)
- Thailand (3.2 tons)
- Myanmar (1.6 tons)
- Timor-Leste (1.3 tons)
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