Singapore: Market for Frozen And Fresh Or Chilled Skipjack Tuna 2024

Market Size for Frozen And Fresh Or Chilled Skipjack Tuna in Singapore

In 2022, the Singaporean market for frozen and fresh or chilled skipjack tuna was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Frozen And Fresh Or Chilled Skipjack Tuna in Singapore

In value terms, production of frozen and fresh or chilled skipjack tuna dropped to $X in 2022 estimated in export price. In general, production saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Frozen And Fresh Or Chilled Skipjack Tuna

Exports from Singapore

After four years of growth, shipments abroad of frozen and fresh or chilled skipjack tuna decreased by X% to X tons in 2022. In general, exports recorded a mild decrease. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports of hit record highs at X tons in 2021, and then shrank significantly in the following year.

In value terms, exports of frozen and fresh or chilled skipjack tuna contracted notably to $X in 2022. Over the period under review, exports saw a abrupt decline. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for exports of frozen and fresh or chilled skipjack tuna from Singapore, with a X% share of total exports. Moreover, exports of frozen and fresh or chilled skipjack tuna to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), eightfold. Brunei Darussalam (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Brunei Darussalam (X% per year).

In value terms, Indonesia ($X) remains the key foreign market for frozen and fresh or chilled skipjack tuna exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Brunei Darussalam, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Brunei Darussalam (X% per year).

Export Prices by Country

In 2022, the average export price for frozen and fresh or chilled skipjack tuna amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, showed a deep setback. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Brunei Darussalam ($X per ton), while the average price for exports to Indonesia ($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 Brunei Darussalam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen And Fresh Or Chilled Skipjack Tuna

Imports into Singapore

In 2022, supplies from abroad of frozen and fresh or chilled skipjack tuna decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports of hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of frozen and fresh or chilled skipjack tuna reduced to $X in 2022. Overall, imports, however, saw a modest expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports of hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Japan (X tons) and India (X tons) were the main suppliers of imports of frozen and fresh or chilled skipjack tuna to Singapore, with a combined X% share of total imports. Spain, Thailand, China and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

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

In value terms, Japan ($X), Malaysia ($X) and India ($X) appeared to be the largest frozen and fresh or chilled skipjack tuna suppliers to Singapore, together accounting for X% of total imports. Spain, Thailand, China and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Spain, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for frozen and fresh or chilled skipjack tuna stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price 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, import price for frozen and fresh or chilled skipjack tuna increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :