Price for Vegetable Saps and Extracts; of Hops in Singapore - 2023

Contents:

1. Price for Vegetable Saps and Extracts; of Hops in Singapore (CIF) - 2022
2. Price for Vegetable Saps and Extracts; of Hops in Singapore (FOB) - 2022
3. Imports of Vegetable Saps and Extracts; of Hops in Singapore
4. Exports of Vegetable Saps and Extracts; of Hops in Singapore

Price for Vegetable Saps and Extracts; of Hops in Singapore (CIF) - 2022

The average import price for vegetable saps and extracts; of hopses stood at $44,587 per ton in 2022, shrinking by -1.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 224% against the previous year. As a result, import price attained the peak level of $59,019 per ton. From 2020 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 the United States ($47,029 per ton), while the price for New Zealand ($23,178 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+27.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Vegetable Saps and Extracts; of Hops in Singapore (FOB) - 2022

In 2022, the average export price for vegetable saps and extracts; of hopses amounted to $7,000 per ton, shrinking by -83.5% against the previous year. Overall, the export price faced a abrupt contraction. The pace of growth appeared the most rapid in 2021 when the average export price increased by 294%. Over the period under review, the average export prices attained the peak figure at $49,935 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2013 to 2022, the rate of growth in terms of prices for Cambodia amounted to +37.0% per year.

Imports of Vegetable Saps and Extracts; of Hops in Singapore

In 2022, the amount of vegetable saps and extracts; of hopses imported into Singapore rose slightly to 14 tons, increasing by 4.5% against 2021. Over the period under review, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2021 when imports increased by 143% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of vegetable saps and extracts; of hopses expanded slightly to $626K in 2022. Overall, imports, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by 102%.

Top Suppliers of Vegetable Saps and Extracts; of Hops to Singapore in 2022:

1. United States (11.1 tons)
2. Germany (1.0 tons)
3. New Zealand (0.9 tons)
4. Hong Kong SAR (0.7 tons)

Exports of Vegetable Saps and Extracts; of Hops in Singapore

In 2022, shipments abroad of vegetable saps and extracts; of hopses decreased by -99% to 1 kg, falling for the second year in a row after two years of growth. In general, exports faced a dramatic slump. The most prominent rate of growth was recorded in 2020 with an increase of 579% against the previous year. As a result, the exports attained the peak of 1.3 tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of vegetable saps and extracts; of hopses shrank significantly to $7 in 2022. Overall, exports saw a significant decline. The growth pace was the most rapid in 2020 when exports increased by 47%. As a result, the exports attained the peak of $14K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Vegetable Saps and Extracts; of Hops from Singapore in 2022:

1. China (1.0 kg)

Source: IndexBox Market Intelligence Platform