Updated Jan 10, 2023 16:00

Melon Seed Market in Singapore

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
The Singaporean melon seed market contracted slightly 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). In general, the total consumption indicated moderate growth from 2012 to : its value increased at an average annual rate of +% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against indices. As a result, consumption reached the peak level of $. From 2014 to , the growth of the market remained at a lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , after three years of decline, there was growth in consumption of melon seed, when its volume increased by % to tons. Overall, the total consumption indicated a measured increase from 2012 to : its volume increased at an average annual rate of +% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, consumption reached the maximum volume at tons in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.

The size of the melon seed market in Singapore declined slightly 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). In general, the total consumption indicated a measured expansion from 2012 to : its value increased at an average annual rate of +% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against indices. As a result, consumption reached the peak level of $. From 2014 to , the growth of the market failed to regain momentum.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by increasing demand for melon seed in Singapore, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase 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
Please note: Annual data for 2022 are preliminary and subject to revision
Melon seed market in Singapore consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
Singapore remains a net importer of melon seed; in physical and value terms, imports consistently exceeded exports from 2012 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.