Singapore: Market for Peel Of Citrus Fruit Or Melons 2024

Market Size for Peel Of Citrus Fruit Or Melons in Singapore

The Singaporean market for peel of citrus fruit or melons was estimated at $X in 2021, rising by 2.6% against the previous year. Over the period under review, consumption, however, recorded a pronounced setback. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Peel Of Citrus Fruit Or Melons in Singapore

In value terms, citrus fruit or melons peel production reached $X in 2021 estimated in export price. Overall, production, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2013 when the production volume increased by 37%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Peel Of Citrus Fruit Or Melons

Exports from Singapore

In 2021, shipments abroad of peel of citrus fruit or melons was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a precipitous slump. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, citrus fruit or melons peel exports soared to $X in 2021. Overall, exports, however, recorded a precipitous descent. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X kg) was the main destination for citrus fruit or melons peel exports from Singapore, with a 77% share of total exports. Moreover, citrus fruit or melons peel exports to Vietnam exceeded the volume sent to the second major destination, Malaysia (X kg), fivefold. The third position in this ranking was taken by Cambodia (X kg), with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam stood at -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-31.0% per year) and Cambodia (-20.4% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for peel of citrus fruit or melons exports from Singapore, comprising 75% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 15% share of total exports. It was followed by Cambodia, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam amounted to -9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-22.4% per year) and Cambodia (-26.5% per year).

Export Prices by Country

In 2021, the average export price for peel of citrus fruit or melons amounted to $X per ton, picking up by 13% against the previous year. In general, the export price saw a pronounced expansion. The pace of growth appeared the most rapid in 2017 an increase of 108% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Hong Kong SAR ($X per ton) and Cambodia ($X per ton), while the average price for exports to Vietnam ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Peel Of Citrus Fruit Or Melons

Imports into Singapore

In 2021, imports of peel of citrus fruit or melons into Singapore soared to X tons, increasing by 141% on the previous year. Overall, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, citrus fruit or melons peel imports skyrocketed to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +100.3% against 2015 indices. The growth pace was the most rapid in 2019 with an increase of 38%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

Malaysia (X tons), China (X tons) and Spain (X tons) were the main suppliers of citrus fruit or melons peel imports to Singapore, with a combined 89% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +187.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest citrus fruit or melons peel suppliers to Singapore were Japan ($X), China ($X) and Malaysia ($X), with a combined 64% share of total imports. Spain, France and South Korea lagged somewhat behind, together comprising a further 24%.

Among the main suppliers, Spain, with a CAGR of +98.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for peel of citrus fruit or melons stood at $X per ton in 2021, dropping by -43.2% against the previous year. Overall, the import price showed a perceptible reduction. The pace of growth appeared the most rapid in 2019 an increase of 84%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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