Singapore - Refined Olive Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Olive Oil Price in Singapore - 2022
Contents:
- Refined Olive Oil Price in Singapore (CIF) - 2022
- Refined Olive Oil Price in Singapore (FOB) - 2022
- Refined Olive Oil Imports in Singapore
- Refined Olive Oil Exports in Singapore
Refined Olive Oil Price in Singapore (CIF) - 2022
In September 2022, the average refined olive oil import price amounted to $7,192 per ton, with a decrease of -2.2% against the previous month. In general, import price indicated a slight increase from September 2021 to September 2022: its price increased at an average monthly rate of +1.9% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, refined olive oil import price decreased by -10.5% against May 2022 indices. The most prominent rate of growth was recorded in January 2022 an increase of 25% month-to-month. The import price peaked at $8,548 per ton in February 2022; however, from March 2022 to September 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Canada ($36,791 per ton), while the price for Turkey ($800 per ton) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Refined Olive Oil Price in Singapore (FOB) - 2022
The average refined olive oil export price stood at $5,038 per ton in 2022, surging by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 when the average export price increased by 27%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($14,416 per ton), while the average price for exports to Taiwan (Chinese) ($2,187 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 the United States (+14.4%), while the prices for the other major destinations experienced more modest paces of growth.
Refined Olive Oil Imports in Singapore
Refined olive oil imports into Singapore soared to 901 tons in 2022, increasing by 20% against the previous year's figure. The total import volume increased at an average annual rate of +2.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, refined olive oil imports surged to $4.6M in 2022. The total import value increased at an average annual rate of +4.9% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Refined Olive Oil in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Spain | 2,431 | 2,240 | 1,343 | 1,966 | -6.8% |
| Italy | 1,037 | 1,088 | 1,538 | 1,883 | 22.0% |
| Turkey | 68.8 | 101 | 64.1 | 130 | 23.6% |
| Greece | 202 | 150 | 81.9 | 104 | -19.9% |
| Others | 212 | 262 | 426 | 478 | 31.1% |
| Total | 3,951 | 3,841 | 3,453 | 4,562 | 4.9% |
Top Suppliers of Refined Olive Oil to Singapore in 2022:
- Italy (409.5 tons)
- Spain (404.1 tons)
- Turkey (29.3 tons)
- Greece (23.8 tons)
Refined Olive Oil Exports in Singapore
In 2022, refined olive oil exports from Singapore declined sharply to 67 tons, shrinking by -34.5% against the previous year. Over the period under review, exports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year.
In value terms, refined olive oil exports shrank sharply to $336K in 2022. In general, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 63% against the previous year.
| Export of Refined Olive Oil in Singapore (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 131 | 95.0 | 115 | 146 | 3.7% |
| Indonesia | 17.7 | 16.5 | 16.2 | 44.9 | 36.4% |
| Brunei Darussalam | 99.2 | 94.4 | 101 | 32.5 | -31.1% |
| United States | N/A | N/A | N/A | 23.1 | 0% |
| Thailand | 29.4 | 10.8 | 56.4 | 15.0 | -20.1% |
| Cambodia | 4.2 | 3.2 | 4.9 | 14.9 | 52.5% |
| Myanmar | N/A | N/A | N/A | 12.8 | 0% |
| South Korea | 3.6 | 1.3 | 1.0 | 11.2 | 46.0% |
| Maldives | 29.0 | 11.8 | 97.2 | 9.1 | -32.0% |
| Fiji | 4.3 | 0.6 | N/A | 8.0 | 23.0% |
| Hong Kong SAR | 42.7 | 5.0 | 31.0 | 5.8 | -48.6% |
| Taiwan (Chinese) | 0.8 | N/A | 1.0 | 5.5 | 90.1% |
| Sri Lanka | 63.8 | 0.6 | 1.1 | 3.3 | -62.7% |
| Others | 55.1 | 30.4 | 15.0 | 4.6 | -56.3% |
| Total | 481 | 270 | 439 | 336 | -11.3% |
Top Export Markets for Refined Olive Oil from Singapore in 2022:
- Malaysia (30.8 tons)
- Brunei Darussalam (7.2 tons)
- South Korea (3.6 tons)
- Myanmar (3.3 tons)
- United States (3.3 tons)
- Indonesia (3.1 tons)
- Cambodia (2.6 tons)
- Fiji (2.6 tons)
- Taiwan (Chinese) (2.5 tons)
- Thailand (2.1 tons)
- Maldives (2.0 tons)
- Hong Kong SAR (1.9 tons)
- Sri Lanka (0.7 tons)
This report provides an in-depth analysis of the refined olive oil market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415310 - Refined olive oil and its fractions (excluding chemically modified)
Country coverage:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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