Singapore - Vegetable Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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View PricingVegetable Oils Price in Singapore - 2022
Contents:
- Vegetable Oils Price in Singapore (FOB) - 2022
- Vegetable Oils Price in Singapore (CIF) - 2022
- Vegetable Oils Exports in Singapore
- Vegetable Oils Imports in Singapore
Vegetable Oils Price in Singapore (FOB) - 2022
The average vegetable oils export price stood at $2,716 per ton in September 2022, dropping by -6.8% against the previous month. Over the period under review, export price indicated a moderate increase from September 2021 to September 2022: its price increased at an average monthly rate of +2.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, vegetable oils export price decreased by -33.8% against March 2022 indices. The pace of growth was the most pronounced in January 2022 when the average export price increased by 48% month-to-month. Over the period under review, the average export prices attained the peak figure at $4,100 per ton in March 2022; however, from April 2022 to September 2022, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major external markets. In September 2022, the countries with the highest prices were Indonesia ($3,408 per ton) and the United Arab Emirates ($2,880 per ton), while the average price for exports to Algeria ($2,288 per ton) and the Philippines ($2,318 per ton) were amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.
Vegetable Oils Price in Singapore (CIF) - 2022
The average vegetable oils import price stood at $2,865 per ton in September 2022, declining by -11.8% against the previous month. Overall, the import price, however, showed prominent growth. The most prominent rate of growth was recorded in January 2022 an increase of 54% against the previous month. The import price peaked at $3,721 per ton in March 2022; however, from April 2022 to September 2022, import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the Philippines ($9,940 per ton), while the price for Indonesia ($2,568 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 the Philippines (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Vegetable Oils Exports in Singapore
After three years of growth, overseas shipments of vegetable fats and oils decreased by -0.6% to 32K tons in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +17.7% 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 +63.1% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 33%. As a result, the exports reached the peak of 32K tons, leveling off in the following year.
In value terms, vegetable oils exports expanded remarkably to $63M in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +16.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Vegetable Oils in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 11.5 | 11.8 | 18.8 | 20.2 | 20.7% |
| United Arab Emirates | 0.8 | 0.5 | 0.6 | 8.8 | 122.4% |
| Indonesia | 8.1 | 6.8 | 7.5 | 8.5 | 1.6% |
| Algeria | 1.5 | 4.3 | 10.9 | 6.7 | 64.7% |
| Russia | 2.3 | 1.6 | 1.9 | 4.1 | 21.3% |
| Philippines | 2.0 | 1.9 | 1.5 | 2.6 | 9.1% |
| Pakistan | N/A | N/A | N/A | 2.4 | 0% |
| Senegal | 0.5 | 0.4 | 0.5 | 1.7 | 50.4% |
| Vietnam | 0.2 | 0.1 | 0.5 | 1.4 | 91.3% |
| Malaysia | 2.4 | 1.1 | 0.7 | 1.3 | -18.5% |
| Morocco | 0.5 | 0.1 | N/A | 1.0 | 26.0% |
| Japan | 3.7 | 4.6 | 4.1 | N/A | 5.3% |
| Others | 6.6 | 9.7 | 10.6 | 4.8 | -10.1% |
| Total | 40.1 | 42.8 | 57.6 | 63.5 | 16.6% |
Top Export Markets for Vegetable Oils from Singapore in 2022:
- Japan (undefinedK tons)
- China (11.5K tons)
- Algeria (4.5K tons)
- Indonesia (3.6K tons)
- United Arab Emirates (3.5K tons)
- Russia (1.8K tons)
- Philippines (1.3K tons)
- Pakistan (1.0K tons)
- Senegal (1.0K tons)
- Morocco (0.7K tons)
- Malaysia (0.7K tons)
- Vietnam (0.7K tons)
Vegetable Oils Imports in Singapore
Vegetable oils imports into Singapore reached 39K tons in 2022, growing by 15% on the previous year's figure. In general, imports posted a significant expansion. The growth pace was the most rapid in 2021 with an increase of 67%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, vegetable oils imports skyrocketed to $80M in 2022. Overall, imports posted significant growth. The growth pace was the most rapid in 2021 when imports increased by 120%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.
| Import of Vegetable Oils in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1.5 | 5.6 | 26.0 | 42.9 | 205.8% |
| Malaysia | 17.1 | 17.3 | 23.8 | 32.5 | 23.9% |
| Philippines | N/A | N/A | 0.5 | 1.7 | 240.0% |
| India | 2.3 | 0.4 | 0.2 | 1.5 | -13.3% |
| Others | 4.1 | 1.1 | 3.5 | 1.4 | -30.1% |
| Total | 25.0 | 24.5 | 53.9 | 80.1 | 47.4% |
Top Suppliers of Vegetable Oils to Singapore in 2022:
- Indonesia (23.8K tons)
- Malaysia (13.4K tons)
- Philippines (1.2K tons)
- India (0.6K tons)
This report provides an in-depth analysis of the vegetable oils 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 10416050 - Vegetable fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)
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
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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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This article provides key statistics and insights into the best import markets for vegetable oils. China leads the way, followed by Germany, Malaysia, the United States, Poland, Denmark, France, Thailand, Belgium, and the Netherlands. The global market for vegetable oils continues to expand due to factors such as increasing health consciousness and the versatility of these oils in culinary applications.
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