Starches; Inulin Price in Singapore - 2022

Starches; Inulin Price in Singapore (CIF) - 2022

In September 2022, the average starches; inulin import price amounted to $855 per ton, declining by -2.4% against the previous month. Over the last eight months, it increased at an average monthly rate of +2.3%. The growth pace was the most rapid in April 2022 an increase of 9.1% m-o-m. The import price peaked at $876 per ton in August 2022, and then declined slightly in the following month.

Average prices varied somewhat amongst the major supplying countries. In September 2022, the countries with the highest prices were Malaysia ($1,137 per ton) and Australia ($1,087 per ton), while the price for Thailand ($807 per ton) and Vietnam ($829 per ton) were amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Australia (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Starches; Inulin Price in Singapore (FOB) - 2022

The average starches; inulin export price stood at $759 per ton in September 2022, reducing by -7% against the previous month. Overall, the export price, however, saw a mild increase. The pace of growth appeared the most rapid in April 2022 when the average export price increased by 246% month-to-month. As a result, the export price reached the peak level of $2,761 per ton. From May 2022 to September 2022, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Malaysia ($1,878 per ton), while the average price for exports to Indonesia stood at $716 per ton.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+2.0%).

Starches; Inulin Imports in Singapore

In 2022, purchases abroad of starches; inulins decreased by -4.6% to 93K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2020 with an increase of 4%. As a result, imports reached the peak of 108K tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, starches; inulin imports stood at $55M in 2022. The total import value 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 recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Starches; Inulin in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	28.8	28.2	27.7	39.0	10.6%
Malaysia	2.4	2.2	2.4	2.9	6.5%
Australia	12.4	11.7	9.4	2.6	-40.6%
Netherlands	2.6	2.0	2.5	2.1	-6.9%
Vietnam	0.4	0.7	1.5	2.0	71.0%
South Korea	0.6	0.6	1.0	1.1	22.4%
China	1.0	1.4	0.6	1.0	0.0%
Others	4.1	4.0	4.3	4.0	-0.8%
Total	52.4	50.9	49.4	54.8	1.5%

Top Suppliers of Starches; Inulin to Singapore in 2022:

Thailand (71.4K tons)
Australia (4.8K tons)
Malaysia (4.0K tons)
Vietnam (3.5K tons)
Netherlands (2.0K tons)
South Korea (1.7K tons)
China (1.3K tons)

Starches; Inulin Exports in Singapore

For the third year in a row, Singapore recorded decline in overseas shipments of starches; inulins, which decreased by -14.9% to 21K tons in 2022. Over the period under review, exports recorded a deep setback. The smallest decline of -1.4% was in 2020.

In value terms, starches; inulin exports expanded remarkably to $12M in 2022. Overall, exports saw a drastic downturn.