Singapore: Frozen Potato Market Overview 2021

Frozen Potato Market Size in Singapore

The Singaporean frozen potato market amounted to $X in 2019, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern.

Frozen Potato Exports

Exports from Singapore

In 2020, overseas shipments of frozen potatoes were finally on the rise to reach X tonnes after two years of decline. Overall, exports, however, showed a slight descent. Exports peaked at X tonnes in 2010; however, from 2011 to 2020, exports stood at a somewhat lower figure.

In value terms, frozen potato exports soared to $X in 2020. Over the period under review, exports, however, showed a tangible expansion. Exports peaked at $X in 2012; however, from 2013 to 2020, exports failed to regain the momentum.

Exports by Country

Malaysia (X tonnes) was the main destination for frozen potato exports from Singapore, accounting for a X% share of total exports. Moreover, frozen potato exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tonnes), fourfold. New Zealand (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual growth rate of volume to Malaysia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+X% per year) and New Zealand (X% per year).

In value terms, the largest markets for frozen potato exported from Singapore were Malaysia ($X), Thailand ($X) and Indonesia ($X), with a combined X% share of total exports. New Zealand, the U.S., Cambodia, Brunei Darussalam and Australia lagged somewhat behind, together accounting for a further X saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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, declining by -X% against the previous year. In general, the export price, however, saw measured growth. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the maximum at $X per tonne in 2013; however, from 2014 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Thailand ($X per tonne), while the average price for exports to New Zealand ($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 Thailand, while the prices for the other major destinations experienced more modest paces of growth.

Frozen Potato Imports

Imports into Singapore

In 2020, the amount of frozen potatoes imported into Singapore expanded significantly to X tonnes, picking up by X% against the previous year. The total import volume increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2011 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum in 2020 and are likely to see gradual growth in the near future.

In value terms, frozen potato imports dropped to $X in 2020. In general, total imports indicated a measured expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2007 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Imports peaked at $X in 2019, and then declined in the following year.

Imports by Country

In 2020, the U.S. (X tonnes) constituted the largest frozen potato supplier to Singapore, accounting for 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. China (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 China (+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 China, with a X% share.

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

Import Prices by Country

The average frozen potato import price stood at $X per tonne in 2020, shrinking by -X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% y-o-y. The import price peaked at $X per tonne in 2015; however, from 2016 to 2020, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2020, the countries with the highest prices were India ($X per tonne) and China ($X per tonne), while the price for Belgium ($X per tonne) and the Netherlands ($X per tonne) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the leading suppliers of frozen potatoes to Singapore?

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In value terms, the U.S. ($30M) constituted the largest supplier of frozen potato to Singapore, comprising 69% of total imports. The second position in the ranking was occupied by Belgium ($2.4M), with a 5.5% share of total imports. It was followed by China, with a 5.5% 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 Malaysia ($286K), Thailand ($146K) and Indonesia ($67K), with a combined 66% share of total exports. These countries were followed by New Zealand, the U.S., Cambodia, Brunei Darussalam and Australia, which together accounted for a further 26%.

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

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The average frozen potato export price stood at $1,049 per tonne in 2020, declining by -4.8% 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 $1,072 per tonne in 2020, which is down by -15.9% against the previous year.