Beef Market in Singapore
In value terms, beef production reached $ in estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by %. As a result, production attained the peak level of $. From 2017 to , production growth failed to regain momentum.
In , the average yield of beef (cattle meat) in Singapore totaled kg per head, picking up by % on the previous year's figure. The yield figure increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of %. Over the period under review, the average beef yield attained the maximum level in and is expected to retain growth in the near future.
In , the number of animals slaughtered for beef production in Singapore contracted to head, with a decrease of -% compared with the year before. Overall, the number of producing animals saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when the number of producing animals increased by %. The number of animals slaughtered for beef production peaked at head in 2012; however, from 2013 to , producing animals failed to regain momentum.
The value of the beef market in Singapore reduced to $ in , shrinking by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a resilient expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. Over the period under review, the market attained the peak level at $ in , and then fell in the following year.