Singapore: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Singapore

After two years of growth, the Singaporean market for malt extract and food preparations of flour, meal, and starches decreased by -48.1% to $X in 2022. Over the period under review, consumption, however, enjoyed strong growth. As a result, consumption reached the peak level of $X, and then dropped remarkably in the following year.

Production of Malt Extract And Food Preparations Of Flour, Meal, And Starch in Singapore

In value terms, production of malt extract and food preparations of flour, meal, and starches reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 24%. Production of peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from Singapore

In 2022, overseas shipments of malt extract and food preparations of flour, meal, and starches increased by 5.8% to X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 12%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of malt extract and food preparations of flour, meal, and starches skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 29%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Malaysia (X tons) and Myanmar (X tons) were the main destinations of exports of malt extract and food preparations of flour, meal, and starches from Singapore, together comprising 53% of total exports. Sri Lanka, Thailand, Colombia, Indonesia, Vietnam, Ghana, the United States, the Netherlands, the Philippines and Hong Kong SAR lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +113.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for malt extract and food preparations of flour, meal, and starch exported from Singapore were Thailand ($X), Japan ($X) and Malaysia ($X), with a combined 54% share of total exports. The Philippines, the Netherlands, Myanmar, Vietnam, Indonesia, the United States, Sri Lanka, Colombia, Ghana and Hong Kong SAR lagged somewhat behind, together comprising a further 38%.

Among the main countries of destination, Colombia, with a CAGR of +114.7%, saw the highest growth rate of 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 export price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, rising by 9.8% against the previous year. In general, the export price, however, saw a pronounced reduction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 14%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Colombia ($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 the Philippines (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into Singapore

Imports of malt extract and food preparations of flour, meal, and starches into Singapore contracted to X tons in 2022, reducing by -10.1% on 2021. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 75% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of malt extract and food preparations of flour, meal, and starches fell to $X in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -31.3% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 32%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest malt extract and food preparations of flour, meal, and starch supplier to Singapore, with a 73% share of total imports. Moreover, imports of malt extract and food preparations of flour, meal, and starches from Malaysia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), ninefold. The Netherlands (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+9.1% per year) and the Netherlands (-4.1% per year).

In value terms, Malaysia ($X) constituted the largest supplier of malt extract and food preparations of flour, meal, and starches to Singapore, comprising 51% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 12% share of total imports. It was followed by Thailand, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-7.6% per year) and Thailand (+8.8% per year).

Import Prices by Country

The average import price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price showed a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of 29% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 the Netherlands ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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