Singapore: Cream Market 2021

Cream Market Size in Singapore

The Singaporean cream market fell slightly to $X in 2020, declining by -X% against the previous year. Over the period under review, consumption posted buoyant growth. The pace of growth was the most pronounced in 2015 when the market value increased by X% y-o-y. As a result, consumption attained the peak level of $X. From 2016 to 2020, the growth of the market remained at a lower figure.

Cream Production in Singapore

In value terms, cream production reduced to $X in 2020 estimated in export prices. In general, the total production indicated measured growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production decreased by -X% against 2015 indices. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. As a result, production reached the peak level of $X. From 2016 to 2020, production growth remained at a lower figure.

Cream Exports

Exports from Singapore

For the sixth consecutive year, Singapore recorded decline in overseas shipments of cream, which decreased by -X% to X tons in 2020. In general, exports faced a deep downturn. The pace of growth appeared the most rapid in 2014 when exports increased by X% year-to-year. Over the period under review, exports reached the peak figure at X tons in 2007; however, from 2008 to 2020, exports failed to regain the momentum.

In value terms, cream exports contracted significantly to $X in 2020. Overall, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Exports peaked at $X in 2007; however, from 2008 to 2020, exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for cream exports from Singapore, accounting for a X% share of total exports. Moreover, cream exports to Malaysia exceeded the volume sent to the second major destination, Kuwait (X tons), more than tenfold.

From 2007 to 2020, the average annual growth rate of volume to Malaysia amounted to -X%.

In value terms, Malaysia ($X) remains the key foreign market for cream exports from Singapore, comprising X% of total exports. The second position in the ranking was occupied by Kuwait ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to Malaysia amounted to -X%.

Export Prices by Country

In 2020, the average cream export price amounted to $X per ton, declining by -X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of X% y-o-y. As a result, export price attained the peak level of $X per ton. From 2016 to 2020, the growth in terms of the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2020, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Kuwait totaled $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait.

Cream Imports

Imports into Singapore

Cream imports into Singapore expanded sharply to X tons in 2020, growing by X% compared with the previous year's figure. In general, imports saw a resilient increase. The pace of growth appeared the most rapid in 2011 when imports increased by X% year-to-year. Imports peaked in 2020 and are expected to retain growth in years to come.

In value terms, cream imports soared to $X in 2020. Overall, imports recorded a significant expansion. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Imports peaked in 2020 and are expected to retain growth in years to come.

Imports by Country

In 2020, France (X tons) constituted the largest supplier of cream to Singapore, with a X% share of total imports. Moreover, cream imports from France exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from France amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and Germany (+X% per year).

In value terms, France ($X) constituted the largest supplier of cream to Singapore, comprising X% of total imports. The second position in the ranking was occupied by New Zealand ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from France totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+X% per year) and Germany (+X% per year).

Import Prices by Country

In 2020, the average cream import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price posted a remarkable increase. The growth pace was the most rapid in 2008 an increase of X% y-o-y. Over the period under review, average import prices hit record highs in 2020 and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was Australia ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Australia, while the prices for the other major suppliers experienced more modest paces of growth.

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Source: IndexBox Platform

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