Singapore: Market for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters 2024

Market Size for Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Singapore

The Singaporean market for oleic, linoleic or linolenic acids, their salts and esters stood at $X in 2021, increasing by 14% against the previous year. In general, consumption posted a remarkable increase. Oleic, linoleic or linolenic acids consumption peaked in 2021 and is likely to see gradual growth in the near future.

Production of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters in Singapore

In value terms, oleic, linoleic or linolenic acids production shrank to $X in 2021 estimated in export price. Overall, production, however, recorded temperate growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 172% against the previous year. Oleic, linoleic or linolenic acids production peaked at $X in 2020, and then declined in the following year.

Exports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Exports from Singapore

In 2021, overseas shipments of oleic, linoleic or linolenic acids, their salts and esters increased by 64% to X tons, rising for the fourth consecutive year after three years of decline. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 176% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, oleic, linoleic or linolenic acids exports surged to $X in 2021. In general, exports enjoyed a pronounced expansion. The pace of growth was the most pronounced in 2018 with an increase of 166%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons) was the main destination for oleic, linoleic or linolenic acids exports from Singapore, with a 57% share of total exports. Moreover, oleic, linoleic or linolenic acids exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The third position in this ranking was held by the Netherlands (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+46.3% per year) and the Netherlands (0.0% per year).

In value terms, China ($X) remains the key foreign market for oleic, linoleic or linolenic acids, their salts and esters exports from Singapore, comprising 63% of total exports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total exports. It was followed by India, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+31.6% per year) and India (+34.0% per year).

Export Prices by Country

In 2021, the average export price for oleic, linoleic or linolenic acids, their salts and esters amounted to $X per ton, reducing by -22.5% against the previous year. Over the period under review, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2016 when the average export price increased by 12% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Belgium ($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 Indonesia (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters

Imports into Singapore

In 2021, supplies from abroad of oleic, linoleic or linolenic acids, their salts and esters increased by 68% to X tons, rising for the seventh year in a row after two years of decline. Overall, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, oleic, linoleic or linolenic acids imports skyrocketed to $X in 2021. In general, imports continue to indicate a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), the United States (X tons) and India (X tons) were the main suppliers of oleic, linoleic or linolenic acids imports to Singapore, together comprising 78% of total imports. Australia, Indonesia, Switzerland, China and Japan lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +61.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oleic, linoleic or linolenic acids suppliers to Singapore were the United States ($X), India ($X) and Australia ($X), with a combined 73% share of total imports.

India, with a CAGR of +34.4%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average import price for oleic, linoleic or linolenic acids, their salts and esters amounted to $X per ton, surging by 2.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2019 an increase of 34%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat 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 Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+21.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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