Singapore: Market for Peel Of Citrus Fruit Or Melons 2022

Market Size for Peel Of Citrus Fruit Or Melons in Singapore

The Singaporean market for peel of citrus fruit or melons totaled $X in 2021, remaining stable against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +47.5% against 2018 indices. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Peel Of Citrus Fruit Or Melons in Singapore

In value terms, citrus fruit or melons peel production totaled $X in 2021 estimated in export price. Overall, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.6% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 53%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Exports of Peel Of Citrus Fruit Or Melons

Exports from Singapore

In 2021, exports of peel of citrus fruit or melons from Singapore contracted sharply to X tons, reducing by -43.1% against 2020 figures. Over the period under review, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 48% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, citrus fruit or melons peel exports declined significantly to $X in 2021. In general, exports faced a abrupt slump. The growth pace was the most rapid in 2019 when exports increased by 57% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X kg) was the main destination for citrus fruit or melons peel exports from Singapore, with a 75% share of total exports. Moreover, citrus fruit or melons peel exports to Vietnam exceeded the volume sent to the second major destination, Malaysia (X kg), fivefold. Cambodia (X kg) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam amounted to +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+11.3% per year) and Cambodia (+34.4% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for citrus fruit or melons peel exports from Singapore, comprising 75% of total exports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total exports. It was followed by Cambodia, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam totaled +38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+19.3% per year) and Cambodia (+48.9% per year).

Export Prices by Country

In 2021, the average export price for peel of citrus fruit or melons amounted to $X per ton, dropping by -7.5% against the previous year. Overall, the export price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 an increase of 156% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the highest price was recorded for prices to Hong Kong SAR ($X per ton) and Malaysia ($X per ton), while the average price for exports to Cambodia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+28.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Peel Of Citrus Fruit Or Melons

Imports into Singapore

In 2021, imports of peel of citrus fruit or melons into Singapore skyrocketed to X tons, rising by 55% compared with 2020. In general, total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +87.9% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, citrus fruit or melons peel imports soared to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +100.5% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Malaysia (X tons) and Spain (X tons) were the main suppliers of citrus fruit or melons peel imports to Singapore, with a combined 77% share of total imports.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +158.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Malaysia ($X) constituted the largest citrus fruit or melons peel suppliers to Singapore, together accounting for 65% of total imports. Spain, France and South Korea lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Spain, with a CAGR of +99.9%, recorded the highest growth rate of 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 2021, the average import price for peel of citrus fruit or melons amounted to $X per ton, which is down by -11.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 30%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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