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Singapore - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights
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Singapore: Virgin Olive Oil Market Overview 2021

Virgin Olive Oil Market Size in Singapore

The Singaporean virgin olive oil market soared to $X in 2020, jumping by X% against 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). Over the period under review, consumption enjoyed a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Virgin Olive Oil Exports

Exports from Singapore

In 2020, overseas shipments of virgin olive oil increased by X% to X tonnes, rising for the second consecutive year after two years of decline. Overall, exports recorded resilient growth. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, exports reached the maximum at X tonnes in 2016; however, from 2017 to 2020, exports stood at a somewhat lower figure.

In value terms, virgin olive oil exports soared to $X in 2020. Over the period under review, exports posted resilient growth. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, exports attained the maximum at $X in 2016; however, from 2017 to 2020, exports remained at a lower figure.

Exports by Country

The U.S. (X tonnes) was the main destination for virgin olive oil exports from Singapore, with a X% share of total exports. Moreover, virgin olive oil exports to the U.S. exceeded the volume sent to the second major destination, Indonesia (X tonnes), fourfold. Bangladesh (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 the U.S. stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Bangladesh (+X% per year).

In value terms, the U.S. ($X) remains the key foreign market for virgin olive oil exports from Singapore, comprising X% of total exports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total exports. It was followed by Bangladesh, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to the U.S. stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Bangladesh (+X% per year).

Export Prices by Country

The average virgin olive oil export price stood at $X per tonne in 2020, falling by -X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2019, and then fell in the following year.

Average prices varied noticeably for the major overseas markets. In 2020, the countries with the highest prices were Brunei Darussalam ($X per tonne) and the U.S. ($X per tonne), while the average price for exports to China ($X per tonne) and Bangladesh ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports

Imports into Singapore

In 2020, the amount of virgin olive oil imported into Singapore soared to X tonnes, growing by X% compared with the previous year's figure. Over the period under review, imports saw resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, virgin olive oil imports skyrocketed to $X in 2020. In general, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X tonnes), Italy (X tonnes) and Greece (X tonnes) were the main suppliers of virgin olive oil imports to Singapore, together comprising X% of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece, while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Italy ($X) and Greece ($X) constituted the largest virgin olive oil suppliers to Singapore, with a combined X% share of total imports.

In terms of the main suppliers, Greece saw the highest rates of growth with regard to 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 virgin olive oil import price stood at $X per tonne in 2020, dropping by -X% against the previous year. Over the period under review, the import price continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2019, and then plummeted in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Australia ($X per tonne) and Canada ($X per tonne), while the price for Italy ($X per tonne) and Spain ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Canada, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?
+
Spain (1.3M tonnes) constituted the country with the largest volume of virgin olive oil consumption, comprising approx. 33% of total volume. Moreover, virgin olive oil consumption in Spain exceeded the figures recorded by the second-largest consumer, Italy (498K tonnes), threefold. The third position in this ranking was occupied by the U.S. (313K tonnes), with a 7.7% share.
What are the largest producers of virgin olive oil in the world?
+
Spain (1.9M tonnes) constituted the country with the largest volume of virgin olive oil production, comprising approx. 49% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Tunisia (466K tonnes), fourfold. Greece (329K tonnes) ranked third in terms of total production with a 8.3% share.
What are the leading suppliers of virgin olive oil to Singapore?
+
In value terms, Spain ($8.4M), Italy ($4.4M) and Greece ($412K) were the largest virgin olive oil suppliers to Singapore, together comprising 90% of total imports.
What are the leading importers of virgin olive oil from Singapore?
+
In value terms, the U.S. ($441K) remains the key foreign market for virgin olive oil exports from Singapore, comprising 44% of total exports. The second position in the ranking was occupied by Indonesia ($110K), with a 11% share of total exports. It was followed by Bangladesh, with a 8.6% share.
What is the average export price for virgin olive oil in Singapore?
+
The average virgin olive oil export price stood at $3,959 per tonne in 2020, with a decrease of -14.6% against the previous year.
What is the average import price for virgin olive oil in Singapore?
+
In 2020, the average virgin olive oil import price amounted to $3,857 per tonne, declining by -24.6% against the previous year.

Product coverage:
• FCL 261 - Oil of Olives, Virgin

This report provides an in-depth analysis of the virgin olive oil market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Singapore

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Singapore
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020
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