Soya Bean Market in Singapore
Market Overview
The Singaporean soya bean market fell significantly 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, consumption continues to indicate a noticeable setback. As a result, consumption reached the peak level of $. From 2013 to , the growth of the market remained at a somewhat lower figure.
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, consumption continues to indicate a noticeable setback. As a result, consumption reached the peak level of $. From 2013 to , the growth of the market remained at a somewhat lower figure.Consumption
In , approx. tons of soya beans were consumed in Singapore; shrinking by -% compared with . Overall, consumption showed a abrupt downturn. Soya bean consumption peaked at tons in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.
The value of the soya bean market in Singapore contracted remarkably to $ in , with a decrease of -% 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, consumption showed a perceptible setback. As a result, consumption reached the peak level of $. From 2013 to , the growth of the market remained at a lower figure.
, approx. tons of soya beans were consumed in Singapore; shrinking by -% compared with . Overall, consumption showed a abrupt downturn. Soya bean consumption peaked at tons in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.The value of the soya bean market in Singapore contracted remarkably to $
in , with a decrease of -% 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, consumption showed a perceptible setback. As a result, consumption reached the peak level of $. From 2013 to , the growth of the market remained at a lower figure.Market Forecast
Depressed by shrinking demand for soya bean in Singapore, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to tons by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Singapore increased significantly over the last fifteen-year period (from % to %). Soya bean market in Singapore consists almost entirely of imported products.
% to %). Soya bean market in Singapore consists almost entirely of imported products.Trade Balance
Singapore remains a net importer of soya bean; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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