Singapore: Cereal Germ Market 2024

Cereal Germ Market Size in Singapore

In 2021, the Singaporean cereal germ market increased by 3.8% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.5% 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 decreased by -24.9% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Cereal Germ Production in Singapore

In value terms, cereal germ production rose slightly to $X in 2021 estimated in export price. Overall, the total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 -28.1% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 22%. Cereal germ production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Cereal Germ Exports

Exports from Singapore

Cereal germ exports from Singapore shrank modestly to X tons in 2021, standing approx. at the previous year's figure. In general, exports recorded a abrupt decline. The pace of growth was the most pronounced in 2017 when exports increased by 1,278% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cereal germ exports surged to $X in 2021. Overall, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2017 when exports increased by 651% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Fiji (X kg), Malaysia (X kg) and Indonesia (X kg) were the main destinations of cereal germ exports from Singapore, together comprising 98% of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +14.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Fiji ($X) emerged as the key foreign market for cereal germ exports from Singapore, comprising 58% of total exports. The second position in the ranking was held by Malaysia ($X), with a 24% share of total exports. It was followed by Indonesia, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to Fiji was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+8.0% per year) and Indonesia (+5.8% per year).

Export Prices by Country

The average cereal germ export price stood at $X per ton in 2021, rising by 16% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cereal germ export price decreased by -1.2% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by 73%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+38.4%), while the prices for the other major destinations experienced a decline.

Cereal Germ Imports

Imports into Singapore

In 2021, overseas purchases of cereal germ decreased by -42.5% to X tons, falling for the second year in a row after three years of growth. In general, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 384% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, cereal germ imports fell to $X in 2021. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 161%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest cereal germ supplier to Singapore, accounting for a 71% share of total imports. Moreover, cereal germ imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was taken by the UK (X tons), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Malaysia stood at +85.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1,289.7% per year) and the UK (+32.3% per year).

In value terms, Malaysia ($X) constituted the largest supplier of cereal germ to Singapore, comprising 68% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by the UK, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia totaled +94.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.4% per year) and the UK (+20.8% per year).

Import Prices by Country

The average cereal germ import price stood at $X per ton in 2021, rising by 57% against the previous year. Overall, the import price, however, saw a noticeable decrease. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+59.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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