Singapore: Yams Market 2024

Yams Market Size in Singapore

In 2022, the Singaporean yams market increased by 1.8% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Yams Exports

Exports from Singapore

In 2022, overseas shipments of yams decreased by -18.1% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 59% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, yams exports expanded slightly to $X in 2022. Overall, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -11.6% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 47% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), Brunei Darussalam (X tons) and Indonesia (X tons) were the main destinations of yams exports from Singapore, together comprising 99.9% of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +10.1%), while shipments for the other leaders experienced a decline.

In value terms, Malaysia ($X), Brunei Darussalam ($X) and Indonesia ($X) constituted the largest markets for yams exported from Singapore worldwide, with a combined 99.9% share of total exports.

Malaysia, with a CAGR of +5.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average yams export price amounted to $X per ton, picking up by 28% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Indonesia ($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 Indonesia (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Yams Imports

Imports into Singapore

In 2022, overseas purchases of yams decreased by -5.4% to X tons, falling for the third consecutive year after two years of growth. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 14% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, yams imports rose slightly to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 13% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of yams to Singapore, accounting for a 45% share of total imports. Moreover, yams imports from Malaysia exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. China (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+7.4% per year) and China (+0.0% per year).

In value terms, Japan ($X) constituted the largest supplier of yams to Singapore, comprising 39% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total imports. It was followed by China, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.5% per year) and China (+1.1% per year).

Import Prices by Country

In 2022, the average yams import price amounted to $X per ton, increasing by 8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 9.7%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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