Singapore: Cereal Flour Market 2024

Cereal Flour Market Size in Singapore

In 2022, the Singaporean cereal flour market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Cereal Flour Production in Singapore

In value terms, cereal flour production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Cereal Flour Exports

Exports from Singapore

In 2022, exports of cereal flours from Singapore reduced dramatically to X tons, with a decrease of X% compared with the year before. Over the period under review, total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then reduced rapidly in the following year.

In value terms, cereal flour exports contracted to $X in 2022. Overall, total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Malaysia (X tons) was the main destination for cereal flour exports from Singapore, accounting for a X% share of total exports. Moreover, cereal flour exports to Malaysia exceeded the volume sent to the second major destination, Thailand (X tons), threefold. Hong Kong SAR (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, 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: Thailand (X% per year) and Hong Kong SAR (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for cereal flours exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The average cereal flour export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cereal Flour Imports

Imports into Singapore

Cereal flour imports into Singapore expanded modestly to X tons in 2022, picking up by X% compared with the previous year. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cereal flour imports expanded markedly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), Sri Lanka (X tons) and Japan (X tons) were the main suppliers of cereal flour imports to Singapore, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sri Lanka (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Sri Lanka ($X) and Japan ($X) were the largest cereal flour suppliers to Singapore, together comprising X% of total imports.

In terms of the main suppliers, Sri Lanka, with a CAGR of X%, 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

The average cereal flour import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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