Singapore: Smoked Herring Market 2025

Smoked Herring Market Size in Singapore

The Singaporean smoked herring market dropped to $X in 2022, which is down by -8.9% against the previous year. In general, consumption recorded a abrupt setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Smoked Herring Production in Singapore

In value terms, smoked herring production fell modestly to $X in 2022 estimated in export price. In general, production continues to indicate a deep reduction. The pace of growth was the most pronounced in 2013 when the production volume increased by 15%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Smoked Herring Exports

Exports from Singapore

In 2022, shipments abroad of smoked herrings increased by 16% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 176% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, smoked herring exports surged to $X in 2022. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 120%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brunei Darussalam (X tons) was the main destination for smoked herring exports from Singapore, accounting for a 96% share of total exports. It was followed by Indonesia (X kg), with a 2.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brunei Darussalam totaled +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+17.6% per year) and Malaysia (+18.8% per year).

In value terms, Brunei Darussalam ($X) remains the key foreign market for smoked herrings exports from Singapore, comprising 76% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Brunei Darussalam amounted to +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+32.2% per year) and Malaysia (+25.1% per year).

Export Prices by Country

In 2022, the average smoked herring export price amounted to $X per ton, standing approx. at the previous year. In general, the export price showed a abrupt downturn. The pace of growth appeared the most rapid in 2013 an increase of 25%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Brunei Darussalam ($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 Indonesia (+12.5%), while the prices for the other major destinations experienced mixed trend patterns.

Smoked Herring Imports

Imports into Singapore

In 2022, smoked herring imports into Singapore dropped dramatically to X kg, with a decrease of -87.3% compared with 2021 figures. Overall, imports faced a deep setback. The most prominent rate of growth was recorded in 2016 when imports increased by 570% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, smoked herring imports fell rapidly to $X in 2022. In general, imports faced a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 801% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, France (X kg) constituted the largest smoked herring supplier to Singapore, accounting for a 67% share of total imports. Moreover, smoked herring imports from France exceeded the figures recorded by the second-largest supplier, Germany (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from France totaled +40.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.8% per year) and Spain (0.0% per year).

In value terms, the largest smoked herring suppliers to Singapore were France ($X), Germany ($X) and Spain ($X).

In terms of the main suppliers, France, with a CAGR of +36.0%, 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

In 2022, the average smoked herring import price amounted to $X per ton, surging by 190% against the previous year. Overall, the import price recorded a buoyant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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