Singapore: Oil Crops Market 2025

Oil Crops Market Size in Singapore

The Singaporean oil crops market rose notably to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Oil crops consumption peaked in 2022 and is expected to retain growth in the immediate term.

Oil Crops Production in Singapore

In value terms, oil crops production fell to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a notable expansion. The growth pace was the most rapid in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

The average yield of oil crops (primary) in Singapore reduced slightly to X tons per ha in 2022, with a decrease of X% on the year before. Overall, the yield showed a slight descent. The most prominent rate of growth was recorded in 2015 when the yield increased by X% against the previous year. Over the period under review, the average oil crops yield reached the maximum level at X tons per ha in 2013; however, from 2014 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The oil crops harvested area in Singapore was estimated at X ha in 2022, almost unchanged from the previous year. In general, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to oil crops production reached the peak figure at X ha in 2014; however, from 2015 to 2022, the harvested area failed to regain momentum.

Oil Crops Exports

Exports from Singapore

After two years of growth, overseas shipments of oil crops (primary) decreased by X% to X tons in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, oil crops exports reached $X in 2022. In general, exports, however, saw a modest expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Malaysia (X tons) was the main destination for oil crops exports from Singapore, with a X% share of total exports. Moreover, oil crops exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tons), twofold. The third position in this ranking was taken by Jordan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Jordan (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for oil crops (primary) exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Jordan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Jordan (X% per year).

Export Prices by Country

In 2022, the average oil crops export price amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, 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 China ($X per ton), while the average price for exports to Myanmar ($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 Jordan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Singapore

Oil crops imports into Singapore amounted to X tons in 2022, stabilizing at the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, oil crops imports rose notably to $X in 2022. Overall, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Canada (X tons), Malaysia (X tons) and Thailand (X tons) were the main suppliers of oil crops imports to Singapore, together comprising X% of total imports. India, the United States, Indonesia, China, Pakistan and Myanmar lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Canada ($X) constituted the largest oil crops suppliers to Singapore, with a combined X% share of total imports.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average oil crops import price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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