Singapore - Beef (Cattle Meat) - Market Analysis, Forecast, Size, Trends and Insights

Singapore: Beef Market Overview 2020

Beef Market Size in Singapore

The revenue of the beef market in Singapore amounted to $X in 2018, lowering by -X% against the previous year. Overall, beef consumption, however, continues to indicate prominent growth. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. Over the period under review, the beef market reached its peak figure level at $X in 2015; however, from 2016 to 2018, consumption remained at a lower figure.

Beef Production in Singapore

In value terms, beef production stood at $X in 2018 estimated in export prices. In general, the total output indicated a slight increase from 2007 to 2018: its value decreased at an average annual rate of -X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, beef production decreased by -X% against 2012 indices. The pace of growth was the most pronounced in 2012 with an increase of X% against the previous year. In that year, beef production attained its peak level of $X. From 2013 to 2018, beef production growth failed to regain its momentum.

Beef Exports

Exports from Singapore

In 2018, the amount of beef (cattle meat) exported from Singapore stood at X tonnes, going down by -X% against the previous year. The total export volume increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Over the period under review, beef exports attained their maximum at X tonnes in 2011; however, from 2012 to 2018, exports remained at a lower figure.

In value terms, beef exports amounted to $X in 2018. Overall, the total exports indicated a remarkable expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, beef exports decreased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2011 when exports increased by X% year-to-year. Over the period under review, beef exports reached their peak figure at $X in 2013; however, from 2014 to 2018, exports remained at a lower figure.

Exports by Country

Malaysia (X tonnes), Indonesia (X tonnes) and Maldives (X tonnes) were the main destinations of beef exports from Singapore, together comprising X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Malaysia, while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for beef exported from Singapore were Malaysia ($X), Indonesia ($X) and Maldives ($X), together comprising X% of total exports.

Among the main countries of destination, Malaysia recorded the highest growth rate of exports, over the last eleven-year period, while the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2018, the average beef export price amounted to $X per tonne, increasing by X% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. The export price peaked at $X per tonne in 2014; however, from 2015 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Maldives ($X per tonne), while the average price for exports to Malaysia ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Maldives, while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Singapore

In 2018, the beef imports into Singapore totaled X tonnes, falling by -X% against the previous year. Overall, the total imports indicated a buoyant increase from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X tonnes in 2017, and then declined slightly in the following year.

In value terms, beef imports totaled $X in 2018. Over the period under review, beef imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Imports peaked at $X in 2017, and then declined slightly in the following year.

Imports by Country

Brazil (X tonnes), Australia (X tonnes) and New Zealand (X tonnes) were the main suppliers of beef imports to Singapore, together accounting for X% of total imports. Japan, the U.S., Malaysia and Argentina lagged somewhat behind, together comprising a further X 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Japan, while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Australia ($X) and the U.S. ($X) constituted the largest beef suppliers to Singapore, with a combined X% share of total imports. New Zealand, Japan, Malaysia and Argentina lagged somewhat behind, together accounting for a further X experienced the highest growth rate of imports, among the main suppliers over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average beef import price amounted to $X per tonne, jumping by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008 an increase of X% year-to-year. The import price peaked at $X per tonne in 2014; however, from 2015 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was the U.S. ($X per tonne), while the price for New Zealand ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform