Singapore: Green Peas Market 2022

Green Peas Market Size in Singapore

In 2021, after two years of growth, there was significant decline in the Singaporean green peas market, when its value decreased by -X% to $X. The market value increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Green Peas Exports

Exports from Singapore

After three years of growth, overseas shipments of peas (green) decreased by -X% to X tonnes in 2021. Overall, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X% y-o-y. The exports peaked at X tonnes in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, green peas exports fell markedly to $X in 2021. In general, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tonnes) was the main destination for green peas exports from Singapore, accounting for a X% share of total exports. Moreover, green peas exports to Malaysia exceeded the volume sent to the second major destination, Bangladesh (X tonnes), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+X% per year) and Brunei Darussalam (-X% per year).

In value terms, Malaysia ($X) remains the key foreign market for green peas exports from Singapore, comprising X% of total exports. The second position in the ranking was occupied by Bangladesh ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+X% per year) and Brunei Darussalam (-X% per year).

Export Prices by Country

In 2021, the average green peas export price amounted to $X per tonne, increasing by X% against the previous year. In general, the export price posted a moderate expansion. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per tonne in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Brunei Darussalam ($X per tonne), while the average price for exports to Bangladesh ($X per tonne) was amongst the lowest.

From 2012 to 2021, 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 a decline.

Green Peas Imports

Imports into Singapore

In 2021, supplies from abroad of peas (green) decreased by -X% to X tonnes for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of X tonnes, and then shrank in the following year.

In value terms, green peas imports reduced to $X in 2021. The total import value increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by X% year-to-year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2021, China (X tonnes) constituted the largest green peas supplier to Singapore, accounting for a X% share of total imports. Moreover, green peas imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tonnes), threefold. The United Arab Emirates (X tonnes) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and the United Arab Emirates (+X% per year).

In value terms, China ($X) constituted the largest supplier of green peas to Singapore, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and the United Arab Emirates (+X% per year).

Import Prices by Country

In 2021, the average green peas import price amounted to $X per tonne, remaining constant against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. As a result, import price reached the peak level of $X per tonne. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Malaysia ($X per tonne), while the price for the United Arab Emirates ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform