Singapore: Fig Market 2025

Fig Market Size in Singapore

The Singaporean fig market skyrocketed to $X in 2022, growing by 65% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted a buoyant increase. Fig consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Fig Exports

Exports from Singapore

In 2022, the amount of figs exported from Singapore reached X tons, growing by 2.5% compared with 2021 figures. Overall, exports posted strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 161%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, fig exports surged to $X in 2022. Over the period under review, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 123% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Malaysia (X tons) was the main destination for fig exports from Singapore, accounting for a 70% share of total exports. Moreover, fig exports to Malaysia exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fivefold. Vietnam (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia amounted to +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+37.4% per year) and Vietnam (+25.8% per year).

In value terms, Malaysia ($X) remains the key foreign market for figs exports from Singapore, comprising 67% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 15% share of total exports. It was followed by Vietnam, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+41.7% per year) and Vietnam (+37.5% per year).

Export Prices by Country

The average fig export price stood at $X per ton in 2022, with an increase of 90% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fig export price increased by +136.9% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Brunei Darussalam ($X per ton) and Indonesia ($X per ton), while the average price for exports to Malaysia ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Fig Imports

Imports into Singapore

Fig imports into Singapore skyrocketed to X tons in 2022, with an increase of 50% against the previous year's figure. Over the period under review, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2013 when imports increased by 153%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, fig imports soared to $X in 2022. In general, imports showed a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 138%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of fig to Singapore, accounting for a 75% share of total imports. Moreover, fig imports from Turkey exceeded the figures recorded by the second-largest supplier, South Africa (X tons), eightfold. The third position in this ranking was held by India (X tons), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+136.6% per year) and India (+97.8% per year).

In value terms, Turkey ($X) constituted the largest supplier of figs to Singapore, comprising 73% of total imports. The second position in the ranking was held by South Africa ($X), with a 13% share of total imports. It was followed by India, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+148.6% per year) and India (+108.2% per year).

Import Prices by Country

In 2022, the average fig import price amounted to $X per ton, approximately mirroring the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 11% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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