Report Update: Apr 1, 2024

Singapore - Refined Rape, Colza Or Mustard Oil - Market Analysis, Forecast, Size, Trends And Insights

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Refined Rapeseed Oil Price in Singapore - 2022

Refined Rapeseed Oil Price in Singapore (CIF) - 2022

In September 2022, the average refined rapeseed oil import price amounted to $2,651 per ton, reducing by -5.1% against the previous month. Overall, import price indicated a buoyant increase from September 2021 to September 2022: its price increased at an average monthly rate of +5.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, refined rapeseed oil import price decreased by -7.2% against July 2022 indices. The growth pace was the most rapid in January 2022 when the average import price increased by 33% month-to-month. The import price peaked at $2,856 per ton in July 2022; however, from August 2022 to September 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In September 2022, the country with the highest price was Malaysia ($2,981 per ton), while the price for the United Arab Emirates ($2,392 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 Australia (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Refined Rapeseed Oil Price in Singapore (FOB) - 2022

The average refined rapeseed oil export price stood at $3,814 per ton in September 2022, surging by 20% against the previous month. Over the period under review, export price indicated a resilient increase from September 2021 to September 2022: its price increased at an average monthly rate of +5.9% 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 rapeseed oil export price increased by +104.2% against December 2021 indices. The pace of growth was the most pronounced in January 2022 when the average export price increased by 38% month-to-month. Over the period under review, the average export prices attained the peak figure in September 2022.

Prices varied noticeably by the country of destination: the country with the highest price was Fiji ($5,056 per ton), while the average price for exports to Malaysia ($2,877 per ton) was amongst the lowest.

From September 2021 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Refined Rapeseed Oil Imports in Singapore

For the third year in a row, Singapore recorded decline in overseas purchases of refined rape, colza or mustard oil, which decreased by -23.9% to 11K tons in 2022. In general, imports continue to indicate a abrupt decrease. The smallest decline of -7% was in 2020.

In value terms, refined rapeseed oil imports declined rapidly to $17M in 2022. The total import value increased at an average annual rate of +1.6% 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 when imports increased by 38%. As a result, imports attained the peak of $22M, and then fell dramatically in the following year.

Import of Refined Rapeseed Oil in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United Arab Emirates	7.2	7.3	8.0	6.1	-5.4%
Malaysia	2.9	3.8	7.1	5.5	23.8%
Australia	3.2	3.1	4.9	3.8	5.9%
Germany	1.3	0.5	N/A	0.5	-27.3%
Others	1.6	1.0	1.6	1.2	-9.1%
Total	16.2	15.7	21.6	17.0	1.6%

Top Suppliers of Refined Rapeseed Oil to Singapore in 2022:

United Arab Emirates (5.1K tons)
Malaysia (3.0K tons)
Australia (2.4K tons)
Germany (0.4K tons)

Refined Rapeseed Oil Exports in Singapore

After two years of decline, overseas shipments of refined rape, colza or mustard oil increased by 27% to 9.3K tons in 2022. The total export volume increased at an average annual rate of +1.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, refined rapeseed oil exports contracted to $11M in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 14% against the previous year. As a result, the exports reached the peak of $13M, and then dropped in the following year.

Export of Refined Rapeseed Oil in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Philippines	7.8	8.4	9.7	8.3	2.1%
Fiji	1.2	1.2	1.4	1.2	0.0%
Indonesia	0.7	0.4	0.5	0.4	-17.0%
Australia	0.4	0.4	0.1	0.3	-9.1%
Others	0.6	0.8	1.1	0.9	14.5%
Total	10.7	11.2	12.8	11.1	1.2%

Top Export Markets for Refined Rapeseed Oil from Singapore in 2022:

Philippines (7.2K tons)
Fiji (1.1K tons)
Indonesia (0.4K tons)
Australia (0.1K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the refined rapeseed 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 10415600 - Refined rape, colza or mustard oil and their 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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023