EXPORT OF PEPPER BY SINGAPORE
Singapore,
officially the Republic of Singapore, is an island city-state in
Southeast Asia. Singapore actively imports pepper from various pepper
producing countries for domestic consumption or for re-export.
In
2018, Singapore was reported to have imported a total of 5,781 Mt which
87% of it comprised of whole pepper. In the following year, Singapore's
import of pepper decreased by 52%, totaling at 2,753 Mt. In 2020,
Singapore was reported to have imported a total of 3,408 Mt of which
1,731 Mt went for re-export purposes. The ratio of Singapore's import
and export during 2018 - 2020 were 1.2:1, 1.4:1 and 2:1 respectively.
The top five countries of origins for Singapore's pepper in 2020 were
reported to be Viet Nam with 1,157 Mt (contributed to 34% of the total
pepper imported by Singapore in 2020), Indonesia with 910 Mt (27%),
Malaysia with 901 Mt (26%), Brazil with 152 Mt (4%) and Madagascar with
93 Mt (3%).
In
2018, Singapore was reported to have exported a total of 4,807 Mt of
pepper which 84% or 4,024 Mt of it comprised of whole pepper and 16% or
783 Mt of it ground pepper. Singapore on average exported a total of 401
Mt per month in 2018 which peaked in May with 699 Mt. The total revenue
of Singapore's export of pepper in 2018 was reported to be as high as
USD 21.9 Million. Thus, recording an average price of the total pepper
exported by Singapore at USD 3,698 per Mt for whole pepper and USD 9,052
per Mt for ground pepper.
Year
2019 saw a decrease in term of quantity of pepper exported by
Singapore. Singapore was reported to have exported a total of 2,022 Mt
which 97% or 1,963 Mt of it comprised of whole pepper and 3% or 59 Mt of
it ground pepper, recording a decrease of 58% when compared to 2018.
The reason for the significant drop of export by Singapore in 2019 could
be contributed to the big drop in economic activity in the second
quarter of the year. The wealthy city state was being hurt by the
US-China trade war and was heading for its weakest annual growth since
2009. The average export of pepper by Singapore in 2019 was reported to
be 169 Mt per month which peaked in May with 287 Mt. In accordance with
decreasing in term of quantity, Singapore's revenue from pepper export
was reported with a decrease of 71% as compared to the previous year to a
total of USD 6.3 Million. Thus, recording an average price of the total
pepper exported by Singapore at USD 3,093 per Mt for whole pepper and
USD 4,976 p er Mt for ground pepper or a decrease of 16% and 45%
respectively as compared to 2018.
In
2020, Singapore was reported to have exported pepper totaling 1,731 Mt
which 92% or 1,597 Mt of it comprised of whole pepper and 8% or 134 Mt
of it ground pepper. Thus, recording a decrease of 14% when compared to
2019. In 2020, the total revenue of pepper export by Singapore was
reported to have reached USD 5.3 Million, recording a decrease of 15% as
compared to 2019. The average price of the total pepper exported by
Singapore in 2020 was reported to be USD 3,046 per Mt for whole pepper
and USD 3,935 per Mt for ground pepper or a decrease of 2% and 21%
respectively as compared to 2019.
Pepper
from Singapore is traded worldwide with most of them being Asian
countries. In 2020, Singapore's top 5 country destinations for its
pepper were reported to be Taiwan with 236 Mt (a decrease of 0.2% as
compared to 2019), India with 183 Mt (a decrease of 66%), Viet Nam with
182 Mt (an increase of 130 Mt), United States of America with 154 Mt (a
decrease of 28%) and South Africa with 135 Mt (an increase of 89%). The
decrease of Singapore's pepper export to India was the result of India
shifted to import pepper from origin country such as Brazil (an increase
of 21% or 756 Mt as compared to 2019)
. https://edition.cnn.com/2019/08/13/economy/singapore-gdp-recession-trade-war/index.html
#:~:text=Singapore%20on%20Tuesday%20slashed%20its,between%201.5%25%20and%202.5%25.&text=
The%20downgrade%20followed%20very%20weak,first%20quarter%20of%20the%20year
Posts
