Overview of the Market for Fish Fat And Oil in Singapore
In value terms, fish fat and oil production shrank to $ in estimated in export prices. Over the period under review, production, however, posted moderate growth. The growth pace was the most rapid in 2018 when the production volume increased by % against the previous year. Over the period under review, production attained the peak level at $ in 2019, and then dropped in the following year.
The size of the fish fat and oil market in Singapore was estimated at $ in , almost unchanged from 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 pronounced expansion from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of % y-o-y. Over the period under review, the market hit record highs in and is expected to retain growth in years to come.