Singapore: Dry Bean Market 2025

Dry Bean Market Size in Singapore

The Singaporean dry bean market skyrocketed to $X in 2022, rising by 185% against the previous year. In general, consumption saw a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Dry Bean Production in Singapore

In value terms, dry bean production amounted to less than $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume decreased by 99.9% against the previous year. Dry bean production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In 2022, the average dry bean yield in Singapore was estimated at less than X kg per ha, approximately equating 2021 figures. Overall, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of beans (dry) production in Singapore was estimated at less than X ha, remaining constant against 2021 figures. Over the period under review, the harvested area recorded a relatively flat trend pattern.

Dry Bean Exports

Exports from Singapore

After three years of growth, shipments abroad of beans (dry) decreased by -47.3% to X tons in 2022. In general, exports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 191%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, dry bean exports reduced sharply to $X in 2022. Over the period under review, exports saw a pronounced downturn. The growth pace was the most rapid in 2020 when exports increased by 226% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for dry bean exports from Singapore, accounting for a 55% share of total exports. Moreover, dry bean exports to Indonesia exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fivefold. The third position in this ranking was taken by Brunei Darussalam (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia amounted to -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-5.9% per year) and Brunei Darussalam (+8.0% per year).

In value terms, Indonesia ($X) remains the key foreign market for beans (dry) exports from Singapore, comprising 49% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 17% share of total exports. It was followed by Hong Kong SAR, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Indonesia stood at +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-1.7% per year) and Hong Kong SAR (-2.8% per year).

Export Prices by Country

The average dry bean export price stood at $X per ton in 2022, growing by 7.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2014 when the average export price increased by 19% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Myanmar ($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 (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Dry Bean Imports

Imports into Singapore

In 2022, dry bean imports into Singapore declined to X tons, reducing by -14.5% against the year before. Overall, imports showed a mild curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by 33% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, dry bean imports declined to $X in 2022. In general, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -14.5% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 46%. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Myanmar (X tons) constituted the largest supplier of dry bean to Singapore, with a 48% share of total imports. Moreover, dry bean imports from Myanmar exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Myanmar totaled -8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+35.5% per year) and Thailand (+23.7% per year).

In value terms, the largest dry bean suppliers to Singapore were Myanmar ($X), China ($X) and Thailand ($X), together accounting for 76% of total imports. India, Australia and Argentina lagged somewhat behind, together accounting for a further 16%.

In terms of the main suppliers, Argentina, with a CAGR of +145.8%, saw 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 2022, the average dry bean import price amounted to $X per ton, growing by 1.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2014 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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