Singapore: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in Singapore

The Singaporean agricultural product dryer market fell significantly to $X in 2021, which is down by -38.5% against the previous year. Over the period under review, consumption saw a abrupt decrease. Agricultural product dryer consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Agricultural Product Dryer Production in Singapore

In value terms, agricultural product dryer production shrank significantly to $X in 2021 estimated in export price. Overall, production faced a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of 569% against the previous year. Agricultural product dryer production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Agricultural Product Dryer Exports

Exports from Singapore

In 2021, overseas shipments of dryers for the treatment of agricultural products decreased by 0% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 200% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, agricultural product dryer exports dropped sharply to $X in 2021. Overall, exports continue to indicate a precipitous descent. The pace of growth was the most pronounced in 2019 when exports increased by 160% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X units) was the main destination for agricultural product dryer exports from Singapore, accounting for a 50% share of total exports. Moreover, agricultural product dryer exports to Hong Kong SAR exceeded the volume sent to the second major destination, Indonesia (X units), fourfold. Saudi Arabia (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-25.4% per year) and Saudi Arabia (0.0% per year).

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for dryers for the treatment of agricultural products exports from Singapore, comprising 52% of total exports. The second position in the ranking was held by Indonesia ($X), with a 19% share of total exports. It was followed by China, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR totaled +109.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-30.2% per year) and China (+99.2% per year).

Export Prices by Country

The average agricultural product dryer export price stood at $X per unit in 2021, shrinking by -37.8% against the previous year. Over the period under review, the export price saw a abrupt curtailment. The growth pace was the most rapid in 2017 when the average export price increased by 92%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.6%), while the prices for the other major destinations experienced a decline.

Agricultural Product Dryer Imports

Imports into Singapore

In 2021, approx. X units of dryers for the treatment of agricultural products were imported into Singapore; picking up by 50% compared with the previous year's figure. In general, imports, however, showed a dramatic descent. The pace of growth was the most pronounced in 2017 with an increase of 119% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, agricultural product dryer imports plummeted to $X in 2021. Overall, imports, however, saw a significant curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 184%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam (X units), India (X units) and Malaysia (X units) were the main suppliers of agricultural product dryer imports to Singapore, with a combined 33% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of 0.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of dryers for the treatment of agricultural products to Singapore, comprising 28% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-27.9% per year) and Germany (-26.8% per year).

Import Prices by Country

The average agricultural product dryer import price stood at $X per unit in 2021, waning by -61.5% against the previous year. In general, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 an increase of 170%. Over the period under review, average import prices hit record highs at $X per unit 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 the UK ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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