Price for Flour, Meal, and Flakes of Potatoes in Singapore - 2023

Contents:

1. Price for Flour, Meal, and Flakes of Potatoes in Singapore (CIF) - 2022
2. Price for Flour, Meal, and Flakes of Potatoes in Singapore (FOB) - 2023
3. Imports of Flour, Meal, and Flakes of Potatoes in Singapore
4. Exports of Flour, Meal, and Flakes of Potatoes in Singapore

Price for Flour, Meal, and Flakes of Potatoes in Singapore (CIF) - 2022

The average import price for flour, meal, and flakes of potatoeses stood at $2,304 per ton in 2022, rising by 1.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2020 when the average import price increased by 13% against the previous year. Over the period under review, average import prices hit record highs at $2,455 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($2,634 per ton), while the price for Malaysia ($1,402 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Flour, Meal, and Flakes of Potatoes in Singapore (FOB) - 2023

The average export price for flour, meal, and flakes of potatoeses stood at $2,293 per ton in September 2022, with a decrease of -10.2% against the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in July 2022 when the average export price increased by 8.3% m-o-m. The export price peaked at $2,555 per ton in August 2022, and then contracted in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($4,500 per ton), while the average price for exports to Indonesia ($1,900 per ton) was amongst the lowest.

From June 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flour, Meal, and Flakes of Potatoes in Singapore

In 2022, imports of flour, meal, and flakes of potatoeses into Singapore contracted markedly to 629 tons, reducing by -29.4% on the previous year. In general, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2021 when imports increased by 121% against the previous year. As a result, imports reached the peak of 891 tons, and then declined sharply in the following year.

In value terms, imports of flour, meal, and flakes of potatoeses dropped remarkably to $1.4M in 2022. Overall, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 125%. As a result, imports reached the peak of $2M, and then declined dramatically in the following year.

Top Suppliers of Flour, Meal, and Flakes of Potatoes to Singapore in 2022:

1. United States (297.4 tons)
2. Netherlands (181.4 tons)
3. Germany (70.6 tons)
4. Malaysia (33.1 tons)
5. India (19.4 tons)
6. China (10.4 tons)

Exports of Flour, Meal, and Flakes of Potatoes in Singapore

In 2022, exports of flour, meal, and flakes of potatoeses from Singapore contracted rapidly to 434 tons, waning by -41.2% compared with the previous year's figure. Over the period under review, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2021 when exports increased by 182%. As a result, the exports attained the peak of 738 tons, and then fell sharply in the following year.

In value terms, exports of flour, meal, and flakes of potatoeses fell markedly to $720K in 2022. Overall, exports saw a precipitous setback. The growth pace was the most rapid in 2021 with an increase of 234%.

Top Export Markets for Flour, Meal, and Flakes of Potatoes from Singapore in 2022:

1. Indonesia (344.2 tons)
2. Malaysia (64.4 tons)
3. New Zealand (8.1 tons)
4. Canada (7.2 tons)

Source: IndexBox Market Intelligence Platform