Singapore: Preserved Herring Market 2025

Preserved Herring Market Size in Singapore

The Singaporean preserved herring market was finally on the rise to reach $X in 2021, after two years of decline. Overall, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -20.7% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Preserved Herring Production in Singapore

In value terms, preserved herring production soared to $X in 2021 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -25.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 46%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Preserved Herring Exports

Exports from Singapore

In 2021, shipments abroad of herrings (prepared or preserved) increased by 102% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 631%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, preserved herring exports skyrocketed to $X in 2021. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 304% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for preserved herring exports from Singapore, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Malaysia amounted to +139.8%.

In value terms, Malaysia ($X) emerged as the key foreign market for herrings (prepared or preserved) exports from Singapore.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +134.3%.

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, growing by 37% against the previous year. In general, the export price, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2018 an increase of 47% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2021, the rate of growth in terms of prices for Oman amounted to +16.2% per year.

Preserved Herring Imports

Imports into Singapore

In 2021, approx. X tons of herrings (prepared or preserved) were imported into Singapore; with an increase of 19% against the previous year. Over the period under review, imports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2018 when imports increased by 53%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, preserved herring imports surged to $X in 2021. In general, imports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Philippines (X tons), Germany (X tons) and Denmark (X tons) were the main suppliers of preserved herring imports to Singapore, with a combined 62% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +34.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the Philippines ($X), Germany ($X) and Japan ($X) constituted the largest preserved herring suppliers to Singapore, with a combined 65% share of total imports.

The Philippines, with a CAGR of +33.1%, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, with an increase of 7.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2019 an increase of 16%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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