Singapore: Tall Oil Market 2025

Tall Oil Market Size in Singapore

The Singaporean tall oil market soared to $X in 2021, rising by 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, faced a dramatic contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Tall Oil Exports

Exports from Singapore

In 2021, approx. X tons of tall oil were exported from Singapore; waning by -70.1% on the previous year. Overall, exports continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 78% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, tall oil exports contracted dramatically to $X in 2021. In general, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2015 when exports increased by 112%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for tall oil exports from Singapore, with a 93% share of total exports. Moreover, tall oil exports to Vietnam exceeded the volume sent to the second major destination, Indonesia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Vietnam amounted to +22.4%.

In value terms, Vietnam ($X) remains the key foreign market for tall oil exports from Singapore, comprising 86% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled +29.0%.

Export Prices by Country

In 2021, the average tall oil export price amounted to $X per ton, growing by 20% against the previous year. Overall, the export price recorded significant growth. The growth pace was the most rapid in 2013 when the average export price increased by 269% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Vietnam totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+52.3%), while the prices for the other major destinations experienced mixed trend patterns.

Tall Oil Imports

Imports into Singapore

Tall oil imports into Singapore contracted sharply to X tons in 2021, declining by -26.8% against the previous year. In general, imports continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2014 when imports increased by 119%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, tall oil imports shrank to $X in 2021. Over the period under review, imports recorded a precipitous shrinkage. The growth pace was the most rapid in 2014 when imports increased by 95%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest tall oil supplier to Singapore, with a 45% share of total imports. Moreover, tall oil imports from China exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), twofold. The third position in this ranking was held by the United States (X tons), with a 21% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+14.0% per year) and the United States (+14.2% per year).

In value terms, the largest tall oil suppliers to Singapore were China ($X), New Zealand ($X) and the United States ($X), together comprising 86% of total imports.

New Zealand, with a CAGR of +15.0%, 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 mixed trend patterns.

Import Prices by Country

The average tall oil import price stood at $X per ton in 2021, rising by 19% against the previous year. In general, the import price, however, showed a drastic downturn. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and New Zealand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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