Singapore: Pistachio Market Overview 2021

Pistachio Market Size in Singapore

In 2020, the Singaporean pistachio market increased by X% to $X for the first time since 2017, thus ending a two-year declining trend. In general, consumption continues to indicate a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2020, consumption stood at a somewhat lower figure.

Pistachio Exports

Exports from Singapore

In 2020, the amount of pistachios exported from Singapore rose slightly to X tonnes, increasing by X% against 2019 figures. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2008 when exports increased by X% year-to-year. Over the period under review, exports attained the maximum at X tonnes in 2018; however, from 2019 to 2020, exports remained at a lower figure.

In value terms, pistachio exports declined to $X in 2020. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, exports attained the maximum at $X in 2018; however, from 2019 to 2020, exports failed to regain the momentum.

Exports by Country

Malaysia (X tonnes) was the main destination for pistachio exports from Singapore, accounting for a X% share of total exports. Moreover, pistachio exports to Malaysia exceeded the volume sent to the second major destination, India (X tonnes), fourfold. The United Arab Emirates (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: India (+X% per year) and the United Arab Emirates (+X% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for pistachio exports from Singapore, comprising X% of total exports. The second position in the ranking was occupied by India ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to Malaysia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+X% per year) and the United Arab Emirates (+X% per year).

Export Prices by Country

In 2020, the average pistachio export price amounted to $X per tonne, waning by -X% against the previous year. In general, the export price, however, recorded resilient growth. The pace of growth appeared the most rapid in 2009 when the average export price increased by X% against the previous year. Over the period under review, average export prices hit record highs at $X per tonne in 2015; however, from 2016 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Viet Nam ($X per tonne), while the average price for exports to the United Arab Emirates ($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 Sri Lanka, while the prices for the other major destinations experienced more modest paces of growth.

Pistachio Imports

Imports into Singapore

In 2020, supplies from abroad of pistachios was finally on the rise to reach X tonnes after two years of decline. In general, imports showed a strong increase. The growth pace was the most rapid in 2008 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2017; however, from 2018 to 2020, imports failed to regain the momentum.

In value terms, pistachio imports skyrocketed to $X in 2020. Over the period under review, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2020, imports remained at a lower figure.

Imports by Country

Iran (X tonnes), the U.S. (X tonnes) and the United Arab Emirates (X tonnes) were the main suppliers of pistachio imports to Singapore, with a combined X% share of total imports. China and Australia lagged somewhat behind, together accounting for a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pistachio suppliers to Singapore were Iran ($X), the U.S. ($X) and the United Arab Emirates ($X), with a combined X% share of total imports. China and Australia lagged somewhat behind, together comprising a further X the main suppliers, Australia (+X% per year) 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 2020, the average pistachio import price amounted to $X per tonne, increasing by X% against the previous year. In general, import price indicated a resilient increase from 2007 to 2020: its price 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, pistachio import price increased by +X% against 2018 indices. The pace of growth was the most pronounced in 2015 an increase of X% year-to-year. The import price peaked in 2020 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2020, the highest prices were recorded for prices from the United Arab Emirates ($X per tonne) and China ($X per tonne), while the price for Iran ($X per tonne) and Australia ($X per tonne) were amongst the lowest.

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

Source: IndexBox Platform