Singapore: Frozen Yellowfin Tuna Market 2022

Frozen Yellowfin Tuna Market Size in Singapore

For the fourth consecutive year, the Singaporean frozen yellowfin tuna market recorded decline in sales value, which decreased by -X% to $X in 2020. Over the period under review, consumption saw a abrupt shrinkage. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. Frozen yellowfin tuna consumption peaked at $X in 2012; however, from 2013 to 2020, consumption stood at a somewhat lower figure.

Frozen Yellowfin Tuna Production in Singapore

In value terms, frozen yellowfin tuna production rose modestly to $X in 2020 estimated in export prices. In general, the total production indicated a noticeable increase from 2007 to 2020: its value 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, production decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2010 when the production volume increased by X% year-to-year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2020, production remained at a lower figure.

Frozen Yellowfin Tuna Exports

Exports from Singapore

For the fourth year in a row, Singapore recorded growth in overseas shipments of frozen yellowfin tuna, which increased by X% to X tons in 2020. Over the period under review, exports recorded a measured expansion. The growth pace was the most rapid in 2011 when exports increased by X% y-o-y. Exports peaked in 2020 and are expected to retain growth in the immediate term.

In value terms, frozen yellowfin tuna exports soared to $X in 2020. Overall, exports posted pronounced growth. The most prominent rate of growth was recorded in 2011 when exports increased by X% year-to-year. Exports peaked in 2020 and are likely to see steady growth in the near future.

Exports by Country

Japan (X tons), Vietnam (X tons) and China (X tons) were the main destinations of frozen yellowfin tuna exports from Singapore, together accounting for X% of total exports. These countries were followed by Taiwan (Chinese) and Thailand, which together accounted for a further X 2007 to 2020, the biggest increases were in Taiwan (Chinese), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Vietnam ($X) and China ($X) were the largest markets for frozen yellowfin tuna exported from Singapore worldwide, together accounting for X% of total exports. Taiwan (Chinese) and Thailand lagged somewhat behind, together comprising a further X terms of the main countries of destination, Taiwan (Chinese) 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

In 2020, the average frozen yellowfin tuna export price amounted to $X per ton, shrinking by -X% against the previous year. Over the period under review, export price indicated a modest increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, frozen yellowfin tuna export price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2010 an increase of X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Frozen Yellowfin Tuna Imports

Imports into Singapore

In 2020, after five years of decline, there was significant growth in overseas purchases of frozen yellowfin tuna, when their volume increased by X% to X tons. Over the period under review, imports, however, continue to indicate a abrupt slump. Over the period under review, imports reached the maximum at X tons in 2008; however, from 2009 to 2020, imports failed to regain the momentum.

In value terms, frozen yellowfin tuna imports skyrocketed to $X in 2020. In general, imports, however, continue to indicate a noticeable downturn. Imports peaked at $X in 2011; however, from 2012 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Taiwan (Chinese) (X tons) constituted the largest supplier of frozen yellowfin tuna to Singapore, with a X% share of total imports. Moreover, frozen yellowfin tuna imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Seychelles (X tons), fourfold.

From 2007 to 2020, the average annual rate of growth in terms of volume from Taiwan (Chinese) amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Seychelles (-X% per year) and Vietnam (-X% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of frozen yellowfin tuna to Singapore, comprising X% of total imports. The second position in the ranking was occupied by Seychelles ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from Taiwan (Chinese) was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Seychelles (-X% per year) and Vietnam (-X% per year).

Import Prices by Country

The average frozen yellowfin tuna import price stood at $X per ton in 2020, rising by X% against the previous year. Over the period under review, import price indicated a pronounced increase 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. The growth pace was the most rapid in 2010 when the average import price increased by X% year-to-year. The import price peaked at $X per ton in 2011; however, from 2012 to 2020, import prices failed to regain the momentum.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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