Tea Market Overview in Singapore
In value terms, tea production stood at $ in 2018 estimated in export prices. In general, production recorded a significant curtailment. The pace of growth appeared the most rapid in 2015 when the production volume increased by % year-to-year. As a result, production reached the peak level of $. From 2016 to 2018, production growth remained at a somewhat lower figure.
In 2018, the average tea yield in Singapore totaled kg per ha, approximately mirroring 2017. In general, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2018, approx. ha of tea were harvested in Singapore; therefore, remained relatively stable against the previous year. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.
The value of the tea market in Singapore expanded modestly to $ in 2018, rising 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). In general, the total consumption indicated a remarkable increase from 2007 to 2018: its value increased at an average annual rate of +% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, consumption increased by +% against 2016 indices. The pace of growth appeared the most rapid in 2008 when the market value increased by % year-to-year. Over the period under review, the market reached the maximum level at $ in 2013; however, from 2014 to 2018, consumption remained at a lower figure.