Singapore: Shelled Hazelnut Market 2024

Shelled Hazelnut Market Size in Singapore

In 2021, the Singaporean shelled hazelnut market increased by 4.3% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +51.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Shelled Hazelnut Production in Singapore

In value terms, shelled hazelnut production dropped to $X in 2021 estimated in export price. Overall, production showed a abrupt decline. The pace of growth was the most pronounced in 2015 with an increase of 76% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Shelled Hazelnut Exports

Exports from Singapore

In 2021, approx. X tons of shelled hazelnuts were exported from Singapore; which is down by -58.4% on the previous year's figure. Overall, exports, however, showed perceptible growth. The most prominent rate of growth was recorded in 2020 when exports increased by 48% against the previous year. As a result, the exports attained the peak of X tons, and then dropped notably in the following year.

In value terms, shelled hazelnut exports declined sharply to $X in 2021. Over the period under review, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2015 with an increase of 71% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons), Sri Lanka (X tons) and Malaysia (X kg) were the main destinations of shelled hazelnut exports from Singapore, with a combined 61% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +56.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) emerged as the key foreign market for shelled hazelnuts exports from Singapore, comprising 42% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 15% share of total exports. It was followed by Vietnam, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia amounted to +70.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (-6.0% per year) and Vietnam (+7.7% per year).

Export Prices by Country

In 2021, the average shelled hazelnut export price amounted to $X per ton, rising by 75% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Malaysia ($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 (+9.4%), while the prices for the other major destinations experienced more modest paces of growth.

Shelled Hazelnut Imports

Imports into Singapore

In 2021, shelled hazelnut imports into Singapore fell to X tons, which is down by -9.6% on the previous year's figure. In general, total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +36.8% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 61%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, shelled hazelnut imports fell to $X in 2021. Overall, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2020 when imports increased by 44% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest shelled hazelnut supplier to Singapore, with a 81% share of total imports. Moreover, shelled hazelnut imports from Turkey exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. The third position in this ranking was held by Greece (X tons), with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+51.4% per year) and Greece (-24.8% per year).

In value terms, Turkey ($X) constituted the largest supplier of shelled hazelnuts to Singapore, comprising 77% of total imports. The second position in the ranking was held by Italy ($X), with a 10% share of total imports. It was followed by Greece, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value from Turkey stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+71.4% per year) and Greece (-26.3% per year).

Import Prices by Country

In 2021, the average shelled hazelnut import price amounted to $X per ton, almost unchanged from the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 56% against the previous year. Over the period under review, average import prices hit record highs 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 Italy ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Georgia (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform