Singapore: Market for Wheat and Meslin Flour 2024

Market Size for Wheat and Meslin Flour in Singapore

The Singaporean wheat and meslin flour market dropped modestly to $X in 2022, with a decrease of -3.4% against the previous year. Overall, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.6% against 2020 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Wheat and Meslin Flour in Singapore

In value terms, wheat and meslin flour production reduced to $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +9.8% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 31% against the previous year. Wheat and meslin flour production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Wheat and Meslin Flour

Exports from Singapore

In 2022, approx. X tons of wheat and meslin flour were exported from Singapore; shrinking by -25.9% compared with the year before. In general, total exports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +2.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 39% against the previous year. As a result, the exports reached the peak of X tons, and then declined rapidly in the following year.

In value terms, wheat and meslin flour exports shrank to $X in 2022. Overall, total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.0% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

Malaysia (X tons) was the main destination for wheat and meslin flour exports from Singapore, accounting for a 58% share of total exports. Moreover, wheat and meslin flour exports to Malaysia exceeded the volume sent to the second major destination, Thailand (X tons), threefold. Hong Kong SAR (X tons) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-2.3% per year) and Hong Kong SAR (+25.8% per year).

In value terms, Malaysia ($X) remains the key foreign market for wheat and meslin flour exports from Singapore, comprising 57% of total exports. The second position in the ranking was taken by Thailand ($X), with a 20% share of total exports. It was followed by Hong Kong SAR, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+0.2% per year) and Hong Kong SAR (+20.1% per year).

Export Prices by Country

In 2022, the average wheat and meslin flour export price amounted to $X per ton, with an increase of 20% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Papua New Guinea ($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 Taiwan (Chinese) (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wheat and Meslin Flour

Imports into Singapore

Wheat and meslin flour imports into Singapore expanded to X tons in 2022, surging by 2.1% against 2021 figures. In general, imports, however, continue to indicate a mild contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 4.8% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, wheat and meslin flour imports stood at $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), Sri Lanka (X tons) and Japan (X tons) were the main suppliers of wheat and meslin flour imports to Singapore, with a combined 77% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +6.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat and meslin flour suppliers to Singapore were Malaysia ($X), Sri Lanka ($X) and Japan ($X), with a combined 71% share of total imports.

Sri Lanka, with a CAGR of +4.1%, 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 more modest paces of growth.

Import Prices by Country

The average wheat and meslin flour import price stood at $X per ton in 2022, with an increase of 12% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :