Singapore: Frozen Poultry Liver Market 2024

Frozen Poultry Liver Market Size in Singapore

The Singaporean frozen poultry liver market surged to $X in 2022, increasing by 70% 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). The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Poultry Liver Exports

Exports from Singapore

In 2022, the amount of frozen poultry livers and offal exported from Singapore rose slightly to X tons, picking up by 4.4% against the year before. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 58% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, frozen poultry liver exports expanded notably to $X in 2022. Over the period under review, exports posted a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 62% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Brazil (X tons), Malaysia (X tons) and Indonesia (X tons) were the main destinations of frozen poultry liver exports from Singapore, together comprising 88% of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +55.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Malaysia ($X) and Indonesia ($X) constituted the largest markets for frozen poultry liver exported from Singapore worldwide, together comprising 87% of total exports.

Among the main countries of destination, Brazil, with a CAGR of +56.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen poultry liver export price stood at $X per ton in 2022, surging by 7.8% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 19% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 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 Brazil ($X per ton), while the average price for exports to Timor-Leste ($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 Brazil (+0.5%), while the prices for the other major destinations experienced a decline.

Frozen Poultry Liver Imports

Imports into Singapore

In 2022, frozen poultry liver imports into Singapore surged to X tons, picking up by 35% compared with the previous year's figure. Overall, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen poultry liver imports soared to $X in 2022. In general, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest frozen poultry liver supplier to Singapore, accounting for a 78% share of total imports. Moreover, frozen poultry liver imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. Thailand (X tons) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.0% per year) and Thailand (+50.8% per year).

In value terms, Brazil ($X) constituted the largest supplier of frozen poultry livers and offal to Singapore, comprising 83% of total imports. The second position in the ranking was held by the United States ($X), with a 7.4% share of total imports. It was followed by Thailand, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.6% per year) and Thailand (+47.0% per year).

Import Prices by Country

In 2022, the average frozen poultry liver import price amounted to $X per ton, growing by 23% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Thailand ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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