Singapore: Dry Peas Market 2024

Dry Peas Market Size in Singapore

The Singaporean dry peas market reduced markedly to $X in 2023, waning 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). In general, consumption showed a abrupt setback. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Dry Peas Exports

Exports from Singapore

In 2023, approx. X tons of peas (dry) were exported from Singapore; waning by X% on 2022 figures. Overall, exports faced a precipitous slump. The growth pace was the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports failed to regain momentum.

In value terms, dry peas exports fell sharply to $X in 2023. In general, exports saw a precipitous shrinkage. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Brunei Darussalam (X tons) was the main destination for dry peas exports from Singapore, with a X% share of total exports. Moreover, dry peas exports to Brunei Darussalam exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), more than tenfold. The third position in this ranking was taken by South Korea (X kg), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Brunei Darussalam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and South Korea (X% per year).

In value terms, Brunei Darussalam ($X) emerged as the key foreign market for peas (dry) exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Brunei Darussalam amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and South Korea (X% per year).

Export Prices by Country

The average dry peas export price stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the export price continues to indicate perceptible growth. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Dry Peas Imports

Imports into Singapore

In 2023, the amount of peas (dry) imported into Singapore dropped sharply to X tons, waning by X% against the year before. Over the period under review, imports recorded a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports attained the peak of X tons. From 2017 to 2023, the growth of imports failed to regain momentum.

In value terms, dry peas imports reduced remarkably to $X in 2023. In general, imports showed a deep reduction. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Australia (X tons), India (X tons) and Ukraine (X tons) were the main suppliers of dry peas imports to Singapore, with a combined X% share of total imports. New Zealand, the United Arab Emirates, China, Canada, Malaysia, Myanmar, the United States and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Canada (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), India ($X) and New Zealand ($X) appeared to be the largest dry peas suppliers to Singapore, with a combined X% share of total imports. China, Ukraine, the United Arab Emirates, Malaysia, Canada, the UK, Myanmar and the United States lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Canada, with a CAGR of X%, recorded 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

In 2023, the average dry peas import price amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2023, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform