Singapore: Crabs, Not Frozen Market 2024

Crabs, Not Frozen Market Size in Singapore

In 2022, the Singaporean crabs, not frozen market decreased by -1.8% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Crabs, not frozen consumption peaked at $X in 2021, and then dropped slightly in the following year.

Crabs, Not Frozen Exports

Exports from Singapore

In 2022, overseas shipments of crabs, not frozen were finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, exports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 220% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, crabs, not frozen exports expanded modestly to $X in 2022. In general, exports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2016 with an increase of 168% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for crabs, not frozen exports from Singapore, with a 70% share of total exports. Moreover, crabs, not frozen exports to China exceeded the volume sent to the second major destination, Thailand (X tons), ninefold. The third position in this ranking was held by Malaysia (X tons), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +47.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+23.9% per year) and Malaysia (-25.4% per year).

In value terms, China ($X) remains the key foreign market for crabs, not frozen exports from Singapore, comprising 54% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 25% share of total exports. It was followed by India, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +56.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-15.6% per year) and India (+24.3% per year).

Export Prices by Country

The average crabs, not frozen export price stood at $X per ton in 2022, reducing by -2% against the previous year. In general, the export price showed a perceptible setback. The pace of growth appeared the most rapid in 2013 an increase of 14%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Malaysia (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Crabs, Not Frozen Imports

Imports into Singapore

After nine years of decline, supplies from abroad of crabs, not frozen increased by 2.2% to X tons in 2022. In general, imports, however, recorded a perceptible decline. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, crabs, not frozen imports reduced slightly to $X in 2022. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 5.3% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell slightly in the following year.

Imports by Country

India (X tons), Indonesia (X tons) and the Philippines (X tons) were the main suppliers of crabs, not frozen imports to Singapore, together comprising 74% of total imports. Mozambique, Vietnam, Sri Lanka, South Korea, Malaysia and Tanzania lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Mozambique (with a CAGR of +46.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of crabs, not frozen to Singapore, comprising 43% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 21% share of total imports. It was followed by Vietnam, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+2.7% per year) and Vietnam (+2.1% per year).

Import Prices by Country

The average crabs, not frozen import price stood at $X per ton in 2022, falling by -4.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 10%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped modestly in the following year.

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 South Korea ($X per ton), while the price for Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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