Singapore: Frozen Potato Market Overview 2021

Frozen Potato Market Size in Singapore

In 2020, the Singaporean frozen potato market decreased by -X% to $X for the first time since 2014, thus ending a five-year rising trend. Overall, the total consumption indicated a perceptible expansion 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. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Frozen potato consumption peaked at $X in 2019, and then dropped rapidly in the following year.

Frozen Potato Exports

Exports from Singapore

In 2020, frozen potato exports from Singapore surged to X tonnes, increasing by X% against the previous year's figure. Over the period under review, exports, however, saw a perceptible descent. The growth pace was the most rapid in 2010 when exports increased by X% year-to-year. As a result, exports attained the peak of X tonnes. From 2011 to 2020, the growth exports remained at a lower figure.

In value terms, frozen potato exports surged to $X in 2020. Overall, exports, however, saw a notable expansion. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Over the period under review, exports hit record highs at $X in 2012; however, from 2013 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tonnes), India (X tonnes) and Hong Kong SAR (X tonnes) were the main destinations of frozen potato exports from Singapore.

From 2007 to 2020, the biggest increases were in Malaysia (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Malaysia ($X) and Hong Kong SAR ($X) constituted the largest markets for frozen potato exported from Singapore worldwide.

In terms of the main countries of destination, Malaysia (+X% per year) recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average frozen potato export price amounted to $X per tonne, picking up by X% against the previous year. Over the period under review, the export price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. Over the period under review, average export prices attained the peak figure at $X per tonne in 2014; however, from 2015 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Hong Kong SAR ($X per tonne), while the average price for exports to Malaysia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to India, while the prices for the other major destinations experienced mixed trend patterns.

Frozen Potato Imports

Imports into Singapore

Frozen potato imports into Singapore shrank to X tonnes in 2020, waning by -X% on 2019. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2011 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at X tonnes in 2019, and then reduced in the following year.

In value terms, frozen potato imports dropped sharply to $X in 2020. The total import value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2008 when imports increased by X% against the previous year. Imports peaked at $X in 2019, and then contracted notably in the following year.

Imports by Country

In 2020, the U.S. (X tonnes) constituted the largest supplier of frozen potato to Singapore, with a X% share of total imports. Moreover, frozen potato imports from the U.S. exceeded the figures recorded by the second-largest supplier, Belgium (X tonnes), more than tenfold. The Netherlands (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from the U.S. stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+X% per year) and the Netherlands (+X% per year).

In value terms, the U.S. ($X) constituted the largest supplier of frozen potato to Singapore, comprising X% of total imports. The second position in the ranking was occupied by Belgium ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2007 to 2020, the average annual growth rate of value from the U.S. stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+X% per year) and the Netherlands (+X% per year).

Import Prices by Country

The average frozen potato import price stood at $X per tonne in 2020, which is down by -X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2010 when the average import price increased by X% y-o-y. The import price peaked at $X per tonne in 2016; however, from 2017 to 2020, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2020, the highest prices were recorded for prices from the U.S. ($X per tonne) and Canada ($X per tonne), while the price for the Netherlands ($X per tonne) and Belgium ($X per tonne) were amongst the lowest.

From 2007 to 2020, 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 mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for frozen potatoes in the world?

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China (5.5M tonnes) remains the largest frozen potato consuming country worldwide, comprising approx. 23% of total volume. Moreover, frozen potato consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (2.4M tonnes), twofold. India (2.1M tonnes) ranked third in terms of total consumption with a 8.9% share.

What are the largest producers of frozen potatoes in the world?

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The country with the largest volume of frozen potato production was China (5.4M tonnes), accounting for 22% of total volume. Moreover, frozen potato production in China exceeded the figures recorded by the second-largest producer, Belgium (2.5M tonnes), twofold. The third position in this ranking was occupied by the U.S. (2.2M tonnes), with a 9.1% share.

What are the leading suppliers of frozen potatoes to Singapore?

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In value terms, the U.S. ($32M) constituted the largest supplier of frozen potato to Singapore, comprising 82% of total imports. The second position in the ranking was occupied by Belgium ($1.9M), with a 4.9% share of total imports. It was followed by the Netherlands, with a 3.7% share.

What are the leading importers of frozen potatoes from Singapore?

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In value terms, the largest markets for frozen potato exported from Singapore were India ($354K), Malaysia ($306K) and Hong Kong SAR ($205K).

What is the average export price for frozen potatoes in Singapore?

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In 2020, the average frozen potato export price amounted to $1,330 per tonne, surging by 20% against the previous year.

What is the average import price for frozen potatoes in Singapore?

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The average frozen potato import price stood at $1,165 per tonne in 2020, which is down by -8.6% against the previous year.