Report Update Nov 1, 2024

Singapore - Taro - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Taro (Cocoyam) Market 2024

Taro (Cocoyam) Market Size in Singapore

In 2022, the Singaporean taro (cocoyam) market increased by 7.8% to $X, rising for the fifth year in a row after three years of decline. The market value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Taro (cocoyam) consumption peaked in 2022 and is expected to retain growth in the near future.

Taro (Cocoyam) Exports

Exports from Singapore

In 2022, the amount of taro exported from Singapore dropped to X kg, reducing by -6.3% against the previous year's figure. Over the period under review, exports continue to indicate a sharp downturn. The growth pace was the most rapid in 2018 when exports increased by 6,884% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the (cocoyam) exports failed to regain momentum.

In value terms, taro (cocoyam) exports surged to $X in 2022. Overall, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 3,010%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the (cocoyam) exports remained at a somewhat lower figure.

Exports by Country

Brunei Darussalam (X kg), Malaysia (X kg) and Timor-Leste (X kg) were the main destinations of taro (cocoyam) exports from Singapore, with a combined 85% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of -9.7%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for taro (cocoyam) exported from Singapore were Timor-Leste ($X), Brunei Darussalam ($X) and Malaysia ($X), with a combined 95% share of total exports.

In terms of the main countries of destination, Brunei Darussalam, with a CAGR of -0.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average taro (cocoyam) export price stood at $X per ton in 2022, growing by 32% against the previous year. Over the period under review, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2017 an increase of 88%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Timor-Leste ($X per ton), while the average price for exports to Indonesia ($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 Timor-Leste (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Taro (Cocoyam) Imports

Imports into Singapore

In 2022, imports of taro into Singapore reduced to X tons, which is down by -10.4% on 2021 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 15% against the previous year. Over the period under review, (cocoyam) imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, taro (cocoyam) imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 29%. Over the period under review, (cocoyam) imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of taro (cocoyam) to Singapore, with a 70% share of total imports. Moreover, taro (cocoyam) imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Malaysia (X tons), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.8% per year) and Malaysia (+47.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of taro to Singapore, comprising 73% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Malaysia, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.8% per year) and Malaysia (+43.7% per year).

Import Prices by Country

The average taro (cocoyam) import price stood at $X per ton in 2022, surging by 24% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. As a result, import price attained 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 Malaysia ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for taro in the world?

The countries with the highest volumes of taro cocoyam) consumption in 2020 were Nigeria, Cameroon and China, together comprising 56% of global consumption. These countries were followed by Ethiopia, Ghana, Papua New Guinea, Burundi, Madagascar and Rwanda, which together accounted for a further 31%.

What are the largest producers of taro in the world?

The countries with the highest volumes of taro cocoyam) production in 2020 were Nigeria, China and Cameroon, together accounting for 57% of global production. These countries were followed by Ethiopia, Ghana, Papua New Guinea and Burundi, which together accounted for a further 27%.

What are the leading suppliers of taro to Singapore?

In value terms, Thailand constituted the largest supplier of taro cocoyam) to Singapore, comprising 82% of total imports. The second position in the ranking was occupied by China, with a 12% share of total imports.

What are the leading importers of taro from Singapore?

In value terms, the largest markets for taro cocoyam) exported from Singapore were Timor-Leste $771), Malaysia $620) and Brunei Darussalam $260), with a combined 99% share of total exports.

What is the average export price for taro in Singapore?

The average taro cocoyam) export price stood at $2,232 per ton in 2020, jumping by 28% against the previous year.

What is the average import price for taro in Singapore?

The average taro cocoyam) import price stood at $1,378 per ton in 2020, with a decrease of -3.7% against the previous year.

This report provides an in-depth analysis of the taro (cocoyam) market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 136 - Taro (Cocoyam)

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023