Singapore: Cheese And Curd Market 2024

Cheese And Curd Market Size in Singapore

In 2022, the Singaporean cheese and curd market decreased by less than X% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Cheese And Curd Production in Singapore

In value terms, cheese and curd production contracted slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

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Cheese And Curd Exports

Exports from Singapore

For the sixth year in a row, Singapore recorded growth in overseas shipments of cheese and curd, which increased by X% to X tons in 2022. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, cheese and curd exports expanded significantly to $X in 2022. In general, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Malaysia (X tons) was the main destination for cheese and curd exports from Singapore, with a X% share of total exports. Moreover, cheese and curd exports to Malaysia exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Hong Kong SAR (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for cheese and curd exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the average cheese and curd export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, recorded a perceptible contraction. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Nepal ($X 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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese And Curd Imports

Imports into Singapore

In 2022, the amount of cheese and curd imported into Singapore rose slightly to X tons, increasing by X% on the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, cheese and curd imports amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Australia (X tons), New Zealand (X tons) and the United States (X tons) were the main suppliers of cheese and curd imports to Singapore, with a combined X% share of total imports. Denmark, France, Italy, India, the UK, Ireland, the Netherlands, Belgium, Malaysia and Germany lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constituted the largest supplier of cheese and curd to Singapore, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports. It was followed by France, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and France (X% per year).

Import Prices by Country

The average cheese and curd import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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