Price for Offal, Edible; of Swine, (Other than Livers), Frozen in Singapore - 2023

Contents:

1. Price for Offal, Edible; of Swine, (Other than Livers), Frozen in Singapore (CIF) - 2022
2. Price for Offal, Edible; of Swine, (Other than Livers), Frozen in Singapore (FOB) - 2022
3. Imports of Offal, Edible; of Swine, (Other than Livers), Frozen in Singapore
4. Exports of Offal, Edible; of Swine, (Other than Livers), Frozen in Singapore

Price for Offal, Edible; of Swine, (Other than Livers), Frozen in Singapore (CIF) - 2022

The average import price for offal, edible; of swine, (other than livers), frozen stood at $1,458 per ton in 2022, falling by -8.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 24% against the previous year. As a result, import price reached the peak level of $1,983 per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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 Spain ($3,345 per ton), while the price for Ireland ($659 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Offal, Edible; of Swine, (Other than Livers), Frozen in Singapore (FOB) - 2022

The average export price for offal, edible; of swine, (other than livers), frozen stood at $1,703 per ton in 2022, shrinking by -19.7% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 33%. Over the period under review, the average export prices hit record highs at $2,339 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brunei Darussalam ($2,659 per ton), while the average price for exports to Thailand ($866 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 (+14.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Offal, Edible; of Swine, (Other than Livers), Frozen in Singapore

In 2022, the amount of offal, edible; of swine, (other than livers), frozen imported into Singapore skyrocketed to 9K tons, surging by 22% on 2021 figures. The total import volume increased at an average annual rate of +3.3% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of offal, edible; of swine, (other than livers), frozen rose sharply to $13M in 2022. The total import value increased at an average annual rate of +6.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Top Suppliers of Offal, Edible; of Swine, (Other than Livers), Frozen to Singapore in 2022:

1. Germany (1878.0 tons)
2. Sweden (1366.2 tons)
3. Brazil (1013.0 tons)
4. Poland (931.2 tons)
5. Australia (817.9 tons)
6. Spain (749.3 tons)
7. Hungary (515.7 tons)
8. United States (414.9 tons)
9. United Kingdom (373.2 tons)
10. Netherlands (255.1 tons)
11. Finland (168.8 tons)
12. Ireland (75.0 tons)
13. Canada (4.3 tons)

Exports of Offal, Edible; of Swine, (Other than Livers), Frozen in Singapore

For the fourth year in a row, Singapore recorded growth in shipments abroad of offal, edible; of swine, (other than livers), frozen, which increased by 38% to 150 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 +24.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +90.9% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of offal, edible; of swine, (other than livers), frozen rose markedly to $255K in 2022. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2020 with an increase of 61% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

Top Export Markets for Offal, Edible; of Swine, (Other than Livers), Frozen from Singapore in 2022:

1. Thailand (72.0 tons)
2. Brunei Darussalam (45.4 tons)
3. Indonesia (29.0 tons)
4. Malaysia (2.0 tons)
5. Timor-Leste (1.1 tons)

Source: IndexBox Market Intelligence Platform