Liqueurs and Cordials Price in Singapore - 2022
Contents:
- Liqueurs and Cordials Price in Singapore (CIF) - 2022
- Liqueurs and Cordials Price in Singapore (FOB) - 2022
- Liqueurs and Cordials Imports in Singapore
- Liqueurs and Cordials Exports in Singapore
Liqueurs and Cordials Price in Singapore (CIF) - 2022
The average liqueurs and cordials import price stood at $10.2 per litre in September 2022, shrinking by -41% against the previous month. In general, the import price, however, continues to indicate a noticeable expansion. The pace of growth was the most pronounced in December 2021 when the average import price increased by 233% m-o-m. As a result, import price reached the peak level of $21.7 per litre. From January 2022 to September 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Ireland ($16.5 per litre), while the price for South Korea ($2.3 per litre) was amongst the lowest.
From September 2021 to September 2022, the most notable rate of growth in terms of prices was attained by Japan (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Liqueurs and Cordials Price in Singapore (FOB) - 2022
In 2022, the average liqueurs and cordials export price amounted to $18 per litre, approximately equating the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, liqueurs and cordials export price increased by +25.8% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices reached the peak figure at $20 per litre in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($55 per litre), while the average price for exports to the United Arab Emirates ($3.6 per litre) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.5%), while the prices for the other major destinations experienced more modest paces of growth.
Liqueurs and Cordials Imports in Singapore
In 2022, approx. 4.2M litres of liqueurs and cordialses were imported into Singapore; with an increase of 15% compared with 2021 figures. The total import volume increased at an average annual rate of +6.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 16%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, liqueurs and cordials imports surged to $56M in 2022. In general, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +18.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.4% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 74% against the previous year. As a result, imports attained the peak of $58M. From 2021 to 2022, the growth of imports failed to regain momentum.
| Import of Liqueurs and Cordials in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | 1.4 | 0.7 | 0.6 | 5.8 | 60.6% |
| Japan | 1.8 | 1.2 | 3.2 | 4.4 | 34.7% |
| France | 5.4 | 4.7 | 3.5 | 4.1 | -8.8% |
| United Kingdom | 1.5 | 0.5 | 0.4 | 4.0 | 38.7% |
| Germany | 3.7 | 3.3 | 4.3 | 3.2 | -4.7% |
| Italy | 1.3 | 1.6 | 1.8 | 2.4 | 22.7% |
| Ireland | 5.5 | 4.3 | 4.1 | 1.8 | -31.1% |
| Mexico | 1.7 | 1.3 | 0.8 | 1.4 | -6.3% |
| United States | 0.6 | 0.2 | 0.3 | 1.0 | 18.6% |
| South Korea | 0.2 | 0.3 | 0.3 | 0.4 | 26.0% |
| Others | 10.3 | 40.3 | 26.3 | 27.2 | 38.2% |
| Total | 33.4 | 58.2 | 45.6 | 55.7 | 18.6% |
Top Suppliers of Liqueurs and Cordials to Singapore in 2022:
- Japan (900.6K litres)
- France (680.4K litres)
- Netherlands (597.1K litres)
- Germany (418.2K litres)
- Italy (378.3K litres)
- United Kingdom (312.7K litres)
- South Korea (192.4K litres)
- Mexico (159.7K litres)
- United States (153.9K litres)
- Ireland (135.6K litres)
Liqueurs and Cordials Exports in Singapore
In 2022, overseas shipments of liqueurs and cordialses decreased by -10% to 2.3M litres, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a noticeable curtailment. The growth pace was the most rapid in 2020 when exports increased by 43% against the previous year. As a result, the exports attained the peak of 3.5M litres. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, liqueurs and cordials exports reduced to $40M in 2022. In general, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +5.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -28.9% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 65%. As a result, the exports reached the peak of $56M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Liqueurs and Cordials in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 11.4 | 15.0 | 18.3 | 15.7 | 11.3% |
| China | 1.9 | 18.2 | 8.1 | 8.1 | 62.1% |
| Thailand | 5.4 | 3.7 | 3.1 | 3.5 | -13.5% |
| Malaysia | 4.6 | 2.6 | 1.5 | 2.5 | -18.4% |
| Indonesia | 1.0 | 1.1 | 2.5 | 2.1 | 28.1% |
| Taiwan (Chinese) | 0.8 | 1.4 | 1.6 | 1.3 | 17.6% |
| Netherlands | 0.2 | 0.8 | 1.2 | 1.0 | 71.0% |
| India | 0.7 | 0.2 | 0.3 | 0.7 | 0.0% |
| United Arab Emirates | 0.2 | 0.1 | 0.3 | 0.4 | 26.0% |
| Hong Kong SAR | 1.4 | 6.1 | 2.8 | 0.4 | -34.1% |
| Japan | 0.8 | 0.5 | 0.5 | 0.4 | -20.6% |
| Spain | 0.1 | 0.1 | 0.4 | 0.4 | 58.7% |
| Australia | 2.2 | 0.7 | 0.4 | 0.3 | -48.5% |
| Others | 3.5 | 5.8 | 3.9 | 3.2 | -2.9% |
| Total | 34.1 | 56.3 | 44.9 | 40.0 | 5.5% |
Top Export Markets for Liqueurs and Cordials from Singapore in 2022:
- Thailand (382.3K litres)
- Vietnam (285.5K litres)
- China (253.7K litres)
- Indonesia (234.5K litres)
- Taiwan (Chinese) (190.0K litres)
- Malaysia (166.9K litres)
- Netherlands (164.0K litres)
- United Arab Emirates (100.5K litres)
- Japan (57.5K litres)
- Spain (56.1K litres)
- India (50.0K litres)
- Australia (43.5K litres)
- Hong Kong SAR (40.2K litres)
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