Singapore: Vegetable Market 2024

Vegetable Market Size in Singapore

In 2022, after six years of growth, there was decline in the Singaporean vegetable market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the market reached the maximum level at $X in 2021, and then fell modestly in the following year.

Vegetable Production in Singapore

In value terms, vegetable production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Vegetable production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The average yield of vegetables in Singapore dropped modestly to X tons per ha in 2022, flattening at the previous year's figure. Overall, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. The vegetable yield peaked at X tons per ha in 2021, and then reduced slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The vegetable harvested area in Singapore stood at X ha in 2022, approximately mirroring 2021. In general, the harvested area, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the harvested area increased by X% against the previous year. The vegetable harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area stood at a somewhat lower figure.

Vegetable Exports

Exports from Singapore

In 2022, approx. X tons of vegetables were exported from Singapore; surging by X% against 2021 figures. Over the period under review, total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vegetable exports rose notably to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for vegetable exports from Singapore, with a X% share of total exports. Moreover, vegetable exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Brunei Darussalam (X% per year).

In value terms, Indonesia ($X), Malaysia ($X) and Brunei Darussalam ($X) constituted the largest markets for vegetable exported from Singapore worldwide, together accounting for X% of total exports.

Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average vegetable export price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Indonesia ($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 Brunei Darussalam (X%), while the prices for the other major destinations experienced mixed trend patterns.

Vegetable Imports

Imports into Singapore

In 2022, supplies from abroad of vegetables decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable imports declined slightly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Malaysia (X tons), China (X tons) and India (X tons) were the main suppliers of vegetable imports to Singapore, together comprising X% of total imports. Australia, Thailand, Indonesia, Pakistan, the Netherlands and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable suppliers to Singapore were Malaysia ($X), China ($X) and Australia ($X), together comprising X% of total imports. Thailand, India, the Netherlands, Indonesia, the United States and Pakistan lagged somewhat behind, together accounting for a further X%.

Pakistan, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vegetable import price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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 the Netherlands ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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