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Singapore - Refined Soybean Oil And Its Fractions - Market Analysis, Forecast, Size, Trends And Insights
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Singapore: Refined Soybean Oil Market Overview 2021

Refined Soybean Oil Market Size in Singapore

In 2019, the Singaporean refined soybean oil market decreased by -X% to $X, falling for the sixth year in a row after two years of growth. In general, consumption showed a abrupt downturn. The pace of growth appeared the most rapid in 2013 when the market value increased by X% against the previous year. Over the period under review, the market reached the peak level at $X in 2009; however, from 2010 to 2019, consumption failed to regain the momentum.

Refined Soybean Oil Production in Singapore

In value terms, refined soybean oil production fell markedly to $X in 2019 estimated in export prices. Overall, production saw a abrupt setback. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then declined significantly in the following year.

Refined Soybean Oil Exports

Exports from Singapore

In 2019, overseas shipments of refined soybean oil and its fractions decreased by -X% to X tonnes, falling for the seventh year in a row after two years of growth. Over the period under review, exports showed a abrupt downturn. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. As a result, exports reached the peak of X tonnes. From 2009 to 2019, the growth exports remained at a lower figure.

In value terms, refined soybean oil exports fell notably to $X in 2019. In general, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. As a result, exports reached the peak of $X. From 2009 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tonnes), Kuwait (X tonnes) and Fiji (X tonnes) were the main destinations of refined soybean oil exports from Singapore, together accounting for X% of total exports.

From 2007 to 2019, the biggest increases were in Kuwait, while shipments for the other leaders experienced more modest paces of growth.

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

From 2007 to 2019, the average annual rate of growth in terms of value to Indonesia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+X% per year) and Fiji (+X% per year).

Export Prices by Country

In 2019, the average refined soybean oil export price amounted to $X per tonne, approximately reflecting the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2013 when the average export price increased by X% year-to-year. As a result, export price reached the peak level of $X per tonne. From 2014 to 2019, the growth in terms of the average export prices failed to regain the momentum.

Average prices varied noticeably for the major overseas markets. In 2019, the highest prices were recorded for prices to Indonesia ($X per tonne) and Sri Lanka ($X per tonne), while the average price for exports to Kuwait ($X per tonne) and Fiji ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia, while the prices for the other major destinations experienced more modest paces of growth.

Refined Soybean Oil Imports

Imports into Singapore

In 2019, purchases abroad of refined soybean oil and its fractions increased by X% to X tonnes for the first time since 2012, thus ending a six-year declining trend. Overall, imports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2012 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2009; however, from 2010 to 2019, imports remained at a lower figure.

In value terms, refined soybean oil imports stood at $X in 2019. Over the period under review, imports, however, saw a abrupt slump. The growth pace was the most rapid in 2008 when imports increased by X% year-to-year. As a result, imports attained the peak of $X. From 2009 to 2019, the growth imports remained at a lower figure.

Imports by Country

In 2019, Malaysia (X tonnes) constituted the largest refined soybean oil supplier to Singapore, with a X% share of total imports. Moreover, refined soybean oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Thailand (X tonnes), sevenfold. The third position in this ranking was occupied by Italy (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Malaysia amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-X% per year) and Italy (+X% per year).

In value terms, Malaysia ($X) constituted the largest supplier of refined soybean oil to Singapore, comprising X% of total imports. The second position in the ranking was occupied by Italy ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Malaysia amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+X% per year) and Thailand (-X% per year).

Import Prices by Country

In 2019, the average refined soybean oil import price amounted to $X per tonne, shrinking by -X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2008 an increase of X% year-to-year. The import price peaked at $X per tonne in 2011; however, from 2012 to 2019, import prices failed to regain the momentum.

Average prices varied somewhat amongst the major supplying countries. In 2019, the countries with the highest prices were Italy ($X per tonne) and Thailand ($X per tonne), while the price for China ($X per tonne) and Malaysia ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Malaysia, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for refined soybean oil and its fractions in the world?
+
The country with the largest volume of refined soybean oil consumption was China (1.8M tonnes), comprising approx. 16% of total volume. Moreover, refined soybean oil consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (808K tonnes), twofold. India (734K tonnes) ranked third in terms of total consumption with a 6.6% share.
What are the largest producers of refined soybean oil and its fractions in the world?
+
China (2M tonnes) remains the largest refined soybean oil producing country worldwide, comprising approx. 17% of total volume. Moreover, refined soybean oil production in China exceeded the figures recorded by the second-largest producer, the U.S. (806K tonnes), twofold. The third position in this ranking was occupied by India (723K tonnes), with a 6.4% share.
What are the leading suppliers of refined soybean oil and its fractions to Singapore?
+
In value terms, Malaysia ($9.5M) constituted the largest supplier of refined soybean oil to Singapore, comprising 71% of total imports. The second position in the ranking was occupied by Italy ($1.4M), with a 11% share of total imports. It was followed by Thailand, with a 10% share.
What are the leading importers of refined soybean oil and its fractions from Singapore?
+
In value terms, Indonesia ($1.9M) remains the key foreign market for refined soybean oil exports from Singapore, comprising 43% of total exports. The second position in the ranking was occupied by Kuwait ($940K), with a 21% share of total exports. It was followed by Fiji, with a 14% share.
What is the average export price for refined soybean oil and its fractions in Singapore?
+
The average refined soybean oil export price stood at $1,198 per tonne in 2019, approximately mirroring the previous year.
What is the average import price for refined soybean oil and its fractions in Singapore?
+
The average refined soybean oil import price stood at $941 per tonne in 2019, shrinking by -3.6% against the previous year.

Product coverage:
• Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)

This report provides an in-depth analysis of the refined soybean 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

2.1
KEY FINDINGS
2.2
MARKET TRENDS
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 2025
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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