Singapore: Market for Goat Or Kid Hides And Skins 2024

Market Size for Goat Or Kid Hides And Skins in Singapore

In 2021, the Singaporean goat hides and skins market decreased by -98.2% to $X, falling for the third year in a row after two years of growth. In general, consumption showed a precipitous decrease. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Goat Or Kid Hides And Skins in Singapore

In value terms, goat hides and skins production fell to $X in 2021 estimated in export price. Over the period under review, production, however, showed a slight downturn. The pace of growth appeared the most rapid in 2016 with an increase of 93% against the previous year. Goat hides and skins production peaked at $X in 2020, and then shrank in the following year.

The average yield of goat or kid hides and skins in Singapore expanded markedly to X kg per X heads in 2021, with an increase of 13% on the previous year's figure. Overall, the yield showed a measured increase. The most prominent rate of growth was recorded in 2013 with an increase of 10,683%. As a result, the yield reached the peak level of X kg per head. From 2014 to 2021, the growth of the average goat hides and skins yield remained at a lower figure.

The number of animals slaughtered for goat hides and skins production in Singapore reduced to X head in 2021, with a decrease of -1.9% on 2020 figures. In general, the number of producing animals recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 1.4%. Over the period under review, this number attained the maximum level at X heads in 2012; however, from 2013 to 2021, producing animals remained at a lower figure.

Exports of Goat Or Kid Hides And Skins

Exports from Singapore

In 2021, shipments abroad of goat or kid hides and skins was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 289% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, goat hides and skins exports soared to $X in 2021. Over the period under review, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by 185%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons) was the main destination for goat hides and skins exports from Singapore, accounting for a 82% share of total exports. Moreover, goat hides and skins exports to Hong Kong SAR exceeded the volume sent to the second major destination, Mexico (X kg), tenfold. The third position in this ranking was taken by India (X kg), with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-18.4% per year) and India (0.0% per year).

In value terms, Mexico ($X) remains the key foreign market for goat or kid hides and skins exports from Singapore, comprising 48% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 9.1% share of total exports. It was followed by Thailand, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value to Mexico amounted to -5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-18.6% per year) and Thailand (-6.1% per year).

Export Prices by Country

The average goat hides and skins export price stood at $X per ton in 2021, with a decrease of -3% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The pace of growth was the most pronounced in 2018 when the average export price increased by 4%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Goat Or Kid Hides And Skins

Imports into Singapore

In 2021, supplies from abroad of goat or kid hides and skins decreased by -91.4% to X tons, falling for the third year in a row after three years of growth. In general, imports showed a precipitous decline. The growth pace was the most rapid in 2018 when imports increased by 211% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, goat hides and skins imports fell remarkably to $X in 2021. Overall, imports showed a dramatic setback. The most prominent rate of growth was recorded in 2018 when imports increased by 247% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Zambia (X tons) constituted the largest supplier of goat hides and skins to Singapore, with a 63% share of total imports. Moreover, goat hides and skins imports from Zambia exceeded the figures recorded by the second-largest supplier, Indonesia (X kg), fivefold. The third position in this ranking was held by Malawi (X kg), with a 9.1% share.

From 2012 to 2021, the average annual growth rate of volume from Zambia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-37.0% per year) and Malawi (-10.3% per year).

In value terms, Zambia ($X) constituted the largest supplier of goat or kid hides and skins to Singapore, comprising 72% of total imports. The second position in the ranking was taken by Malawi ($X), with an 11% share of total imports. It was followed by Indonesia, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Zambia amounted to -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malawi (-14.3% per year) and Indonesia (-40.5% per year).

Import Prices by Country

The average goat hides and skins import price stood at $X per ton in 2021, jumping by 31% against the previous year. In general, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, goat hides and skins import price increased by +78.2% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of 58%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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