Groundnuts Market in Singapore
Market Overview
After three years of growth, the Singaporean groundnuts market decreased by -
% to $ in . In general, consumption recorded a abrupt contraction. Over the period under review, the market attained the maximum level at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.
% to $ in . In general, consumption recorded a abrupt contraction. Over the period under review, the market attained the maximum level at $ in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.Consumption
In , after three years of growth, there was significant decline in consumption of ground-nut (in-shell), when its volume decreased by -% to tons. Over the period under review, consumption continues to indicate a deep reduction. Groundnuts consumption peaked at tons in 2007; however, from 2008 to , consumption remained at a lower figure.
The size of the groundnuts market in Singapore reduced remarkably to $ in , waning 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, consumption showed a deep contraction. Over the period under review, the market hit record highs at $ in 2007; however, from 2008 to , consumption failed to regain momentum.
, after three years of growth, there was significant decline in consumption of ground-nut (in-shell), when its volume decreased by -% to tons. Over the period under review, consumption continues to indicate a deep reduction. Groundnuts consumption peaked at tons in 2007; however, from 2008 to , consumption remained at a lower figure.The size of the groundnuts market in Singapore reduced remarkably to $
in , waning 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, consumption showed a deep contraction. Over the period under review, the market hit record highs at $ in 2007; however, from 2008 to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for groundnuts 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
Groundnuts market in Singapore consists almost entirely of imported products.
Trade Balance
Singapore remains a net importer of groundnuts; 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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