Price for Mollusc Preparations; Octopus, Prepared or Preserved in Singapore - 2023
Contents:
- Price for Mollusc Preparations; Octopus, Prepared or Preserved in Singapore (CIF) - 2023
- Price for Mollusc Preparations; Octopus, Prepared or Preserved in Singapore (FOB) - 2022
- Imports of Mollusc Preparations; Octopus, Prepared or Preserved in Singapore
- Exports of Mollusc Preparations; Octopus, Prepared or Preserved in Singapore
Price for Mollusc Preparations; Octopus, Prepared or Preserved in Singapore (CIF) - 2023
The average import price for mollusc preparations; octopus, prepared or preserveds stood at $12,526 per ton in September 2022, stabilizing at the previous month. In general, the import price, however, saw a abrupt shrinkage. The import price peaked at $15,177 per ton in June 2022; however, from July 2022 to September 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Spain ($49,351 per ton), while the price for Malaysia ($6,616 per ton) was amongst the lowest.
From June 2022 to September 2022, the most notable rate of growth in terms of prices was attained by South Korea (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Mollusc Preparations; Octopus, Prepared or Preserved in Singapore (FOB) - 2022
The average export price for mollusc preparations; octopus, prepared or preserveds stood at $11,392 per ton in 2022, surging by 46% against the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($20,744 per ton), while the average price for exports to Brunei Darussalam ($8,191 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 (+5.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Mollusc Preparations; Octopus, Prepared or Preserved in Singapore
In 2022, the amount of mollusc preparations; octopus, prepared or preserveds imported into Singapore skyrocketed to 509 tons, jumping by 21% against 2021 figures. The total import volume increased at an average annual rate of +5.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, imports of mollusc preparations; octopus, prepared or preserveds surged to $4.7M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +7.7% 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 +66.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Mollusc Preparations; Octopus, Prepared or Preserved in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,992 | 1,129 | 1,838 | 2,627 | 9.7% |
| Japan | 1,022 | 1,004 | 916 | 1,059 | 1.2% |
| Spain | 132 | 136 | 171 | 431 | 48.4% |
| Vietnam | 228 | 150 | 148 | 147 | -13.6% |
| South Korea | 44.0 | 235 | 242 | 101 | 31.9% |
| Taiwan (Chinese) | 89.5 | 7.5 | 69.7 | 97.0 | 2.7% |
| Malaysia | 163 | 33.5 | 57.8 | 82.8 | -20.2% |
| Others | 103 | 130 | 240 | 170 | 18.2% |
| Total | 3,774 | 2,826 | 3,681 | 4,715 | 7.7% |
Top Suppliers of Mollusc Preparations; Octopus, Prepared or Preserved to Singapore in 2022:
- China (381.5 tons)
- Japan (71.4 tons)
- Malaysia (13.2 tons)
- Spain (11.7 tons)
- South Korea (9.1 tons)
- Vietnam (8.3 tons)
- Taiwan (Chinese) (7.7 tons)
Exports of Mollusc Preparations; Octopus, Prepared or Preserved in Singapore
In 2022, the amount of mollusc preparations; octopus, prepared or preserveds exported from Singapore contracted notably to 31 tons, shrinking by -42.4% against 2021. Over the period under review, exports showed a sharp setback. The pace of growth was the most pronounced in 2021 with an increase of 65%.
In value terms, exports of mollusc preparations; octopus, prepared or preserveds fell significantly to $358K in 2022. In general, exports saw a precipitous contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 43% against the previous year.
| Export of Mollusc Preparations; Octopus, Prepared or Preserved in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 495 | 212 | 311 | 253 | -20.0% |
| Hong Kong SAR | 137 | 34.7 | 63.9 | 64.3 | -22.3% |
| Brunei Darussalam | 16.1 | 13.4 | 26.6 | 19.3 | 6.2% |
| Indonesia | 106 | 22.7 | 15.2 | 17.6 | -45.0% |
| Others | 29.8 | 15.2 | 8.1 | 3.5 | -51.0% |
| Total | 784 | 298 | 425 | 358 | -23.0% |
Top Export Markets for Mollusc Preparations; Octopus, Prepared or Preserved from Singapore in 2022:
- Malaysia (23.8 tons)
- Hong Kong SAR (3.1 tons)
- Brunei Darussalam (2.4 tons)
- Indonesia (2.0 tons)
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