Sulphites; of Sodium Price in Singapore - 2022

Sulphites; of Sodium Price in Singapore (CIF) - 2022

The average sulphites; of sodium import price stood at $857 per ton in 2022, surging by 22% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 158% against the previous year. As a result, import price reached the peak level of $1,300 per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($1,366 per ton), while the price for Malaysia ($562 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Sulphites; of Sodium Price in Singapore (FOB) - 2022

The average sulphites; of sodium export price stood at $1,664 per ton in 2022, increasing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2017 when the average export price increased by 27%. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($2,714 per ton), while the average price for exports to Indonesia ($1,244 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 Oman (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphites; of Sodium Imports in Singapore

For the fourth consecutive year, Singapore recorded growth in overseas purchases of sulphites; of sodia, which increased by 8.5% to 2.3K tons in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +16.3% 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 +57.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 23% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, sulphites; of sodium imports skyrocketed to $2M in 2022. In general, imports showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 65% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Import of Sulphites; of Sodium in Singapore (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	256	255	645	1,045	59.8%
Thailand	154	266	247	460	44.0%
Germany	95.7	55.0	69.1	69.5	-10.1%
Japan	83.6	128	114	54.7	-13.2%
Malaysia	38.9	53.0	36.0	38.4	-0.4%
Indonesia	12.4	3.6	21.5	32.1	37.3%
Others	70.5	137	347	255	53.5%
Total	711	898	1,480	1,954	40.1%

Top Suppliers of Sulphites; of Sodium to Singapore in 2022:

China (1385.8 tons)
Thailand (620.2 tons)
Malaysia (68.3 tons)
Germany (55.9 tons)
Indonesia (44.8 tons)
Japan (40.0 tons)

Sulphites; of Sodium Exports in Singapore

In 2022, shipments abroad of sulphites; of sodia decreased by -33.1% to 167 tons, falling for the second year in a row after two years of growth. Overall, exports faced a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 37%. As a result, the exports reached the peak of 318 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, sulphites; of sodium exports declined rapidly to $278K in 2022. In general, exports recorded a perceptible descent. The pace of growth was the most pronounced in 2020 with an increase of 30% against the previous year. As a result, the exports reached the peak of $418K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Export of Sulphites; of Sodium in Singapore (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Malaysia	68.5	64.0	139	89.6	9.4%
Indonesia	96.7	155	102	69.1	-10.6%
Maldives	26.8	13.4	28.3	40.5	14.8%
Philippines	3.9	11.6	9.6	14.9	56.3%
Sri Lanka	14.5	5.5	20.8	9.0	-14.7%
Myanmar	N/A	N/A	N/A	5.8	0%
Vietnam	66.5	100	30.1	4.5	-59.2%
United Arab Emirates	N/A	0.1	N/A	4.3	555.7%
South Korea	N/A	8.2	2.1	0.6	-72.9%
Oman	12.8	N/A	11.2	N/A	-6.5%
Others	32.2	60.8	19.2	39.5	7.0%
Total	322	418	363	278	-4.8%