Singapore: Frozen Atlantic Halibut Market 2022

Frozen Atlantic Halibut Market Size in Singapore

In 2020, the Singaporean frozen atlantic halibut market decreased by -X% to $X for the first time since 2016, thus ending a three-year rising trend. Over the period under review, consumption recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 when the market value increased by X% y-o-y. Over the period under review, the market hit record highs at $X in 2019, and then contracted remarkably in the following year.

Frozen Atlantic Halibut Exports

Exports from Singapore

In 2020, overseas shipments of frozen atlantic halibut decreased by -X% to X tons, falling for the third year in a row after two years of growth. In general, exports showed a slight shrinkage. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, exports reached the peak figure at X tons in 2017; however, from 2018 to 2020, exports remained at a lower figure.

In value terms, frozen atlantic halibut exports declined notably to $X in 2020. Overall, exports continue to indicate mild growth. The most prominent rate of growth was recorded in 2010 when exports increased by X% y-o-y. Exports peaked at $X in 2016; however, from 2017 to 2020, exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X tons) was the main destination for frozen atlantic halibut exports from Singapore, with a X% share of total exports. Moreover, frozen atlantic halibut exports to the Philippines exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was occupied by Malaysia (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to the Philippines totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Malaysia (-X% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for frozen atlantic halibut exports from Singapore, comprising X% of total exports. The second position in the ranking was occupied by Indonesia ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to the Philippines stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Malaysia (-X% per year).

Export Prices by Country

In 2020, the average frozen atlantic halibut export price amounted to $X per ton, increasing by X% against the previous year. Overall, export price indicated notable growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, frozen atlantic halibut export price increased by +X% against 2017 indices. The growth pace was the most rapid in 2013 when the average export price increased by X% y-o-y. Over the period under review, average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2020, export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2020, the highest prices were recorded for prices to Malaysia ($X per ton) and Brunei Darussalam ($X per ton), while the average price for exports to the Philippines ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia, while the prices for the other major destinations experienced more modest paces of growth.

Frozen Atlantic Halibut Imports

Imports into Singapore

In 2020, supplies from abroad of frozen atlantic halibut decreased by -X% to X tons for the first time since 2017, thus ending a two-year rising trend. In general, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 with an increase of X% y-o-y. Imports peaked at X tons in 2019, and then fell significantly in the following year.

In value terms, frozen atlantic halibut imports shrank notably to $X in 2020. Overall, imports saw a perceptible descent. The most prominent rate of growth was recorded in 2013 with an increase of X% year-to-year. Over the period under review, imports attained the maximum at $X in 2019, and then declined significantly in the following year.

Imports by Country

In 2020, Canada (X tons) constituted the largest frozen atlantic halibut supplier to Singapore, accounting for a X% share of total imports. Moreover, frozen atlantic halibut imports from Canada exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Denmark (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Canada totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Denmark (-X% per year).

In value terms, Canada ($X) constituted the largest supplier of frozen atlantic halibut to Singapore, comprising X% of total imports. The second position in the ranking was occupied by Denmark ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from Canada totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-X% per year) and China (-X% per year).

Import Prices by Country

In 2020, the average frozen atlantic halibut import price amounted to $X per ton, declining by -X% against the previous year. In general, import price indicated notable growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, frozen atlantic halibut import price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% year-to-year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Canada ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Thailand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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