Singapore: Market for Raw Hides And Skins of Cattle 2024

Market Size for Raw Hides And Skins of Cattle in Singapore

In 2021, the Singaporean cattle hide and skin market decreased by -92.1% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption faced a significant curtailment. Cattle hide and skin consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Raw Hides And Skins of Cattle in Singapore

In value terms, cattle hide and skin production contracted notably to $X in 2021 estimated in export price. In general, production showed a abrupt decrease. The pace of growth appeared the most rapid in 2018 when the production volume increased by 108% against the previous year. Cattle hide and skin production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

The average yield of raw hides and skins of cattle in Singapore dropped notably to X kg per head in 2021, which is down by -99.2% compared with 2020. Over the period under review, the yield showed a precipitous curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 35%. Over the period under review, the average cattle hide and skin yield attained the maximum level at X tons per head in 2018; however, from 2019 to 2021, the yield failed to regain momentum.

In 2021, the number of animals slaughtered for cattle hide and skin production in Singapore shrank modestly to X head, with a decrease of -4.9% against the year before. Over the period under review, the number of producing animals continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2016 when the number of producing animals increased by 20% against the previous year. The number of animals slaughtered for cattle hide and skin production peaked at X head in 2012; however, from 2013 to 2021, producing animals stood at a somewhat lower figure.

Exports of Raw Hides And Skins of Cattle

Exports from Singapore

In 2021, shipments abroad of raw hides and skins of cattle was finally on the rise to reach X tons after two years of decline. Overall, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2017 with an increase of 435% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, cattle hide and skin exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for cattle hide and skin exports from Singapore, accounting for a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to India totaled -3.0%.

In value terms, India ($X) emerged as the key foreign market for raw hides and skins of cattle exports from Singapore.

From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to -7.8%.

Export Prices by Country

In 2021, the average cattle hide and skin export price amounted to $X per ton, rising by 38% against the previous year. In general, the export price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2016 when the average export price increased by 128% 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 failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -4.9% per year.

Imports of Raw Hides And Skins of Cattle

Imports into Singapore

In 2021, overseas purchases of raw hides and skins of cattle increased by 199% to X tons for the first time since 2015, thus ending a five-year declining trend. In general, imports, however, recorded a deep slump. The growth pace was the most rapid in 2014 with an increase of 314% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, cattle hide and skin imports skyrocketed to $X in 2021. Overall, imports, however, faced a abrupt setback. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Togo (X tons) constituted the largest supplier of cattle hide and skin to Singapore, with a 66% share of total imports. Moreover, cattle hide and skin imports from Togo exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by Malaysia (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Togo was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+50.4% per year) and Malaysia (+46.6% per year).

In value terms, Malaysia ($X) constituted the largest supplier of raw hides and skins of cattle to Singapore, comprising 84% of total imports. The second position in the ranking was taken by the UK ($X), with an 11% share of total imports. It was followed by the United States, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia stood at +33.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+43.2% per year) and the United States (+12.9% per year).

Import Prices by Country

The average cattle hide and skin import price stood at $X per ton in 2021, rising by 125% against the previous year. In general, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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