What is the price of olive oil per kilogram/pound in Singapore today?
The retail price range for Singapore olive oil is between US$ 15.23 and US$ 26.66 per kilogram or between US$ 6.91 and US$ 12.09 per pound(lb). Click here to see today's exact prices of olive oil in Singapore
The retail price range in Singapore Dollar for olive oil is between SGD 20.48 and SGD 35.84 per kilogram or between SGD 9.29 and SGD 16.26 per pound(lb) in Singapore and Bishan.
Wholesale prices
In 2024, the approximate wholesale price range for Singapore olive oil is between US$ 10.66 and US$ 18.66 per kilogram or between US$ 4.84 and US$ 8.46 per pound(lb).
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Singapore Olive Oil Export Prices - Historical, Trends and Prediction
The export price per kilogram of Olive Oil from Singapore has seen a steady increase over the last five years. In 2016, the price was 3.72 US $ per kg, and in 2021 it was 5.15 US $ per kg. This represents an increase of 38.2%. The highest price was in 2018, when it was 5.40 US $ per kg. The lowest price was in 2011, when it was 3.57 US $ per kg. Based on this data, it is likely that the export price per kilogram of Olive Oil from Singapore will continue to increase in the coming years. For 2023 and 2024, we predict the export price per kilogram of Olive Oil from Singapore to be 5.50 US $ and 5.75 US $ respectively.The exports of olive oil from Singapore are categorised as:
- Virgin olive oil and its fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (HS code 150910)
- Other oils and their fractions, obtained solely from olives, whether or not refined, but not chemically modified, incl. blends of these oils or fractions with oils or fractions of heading 1509 (HS code 151000)
- Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (excluding virgin and chemically modified) (HS code 150990)
Singapore Olive Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Olive Oil into Singapore has seen a steady decline over the past five years. In 2016, the price was recorded at 3.72 US dollars per kg, followed by a slight increase to 4.25 US dollars per kg in 2017. In 2018, the price saw a significant jump to 5.4 US dollars per kg, before dropping back to 4.32 US dollars per kg in 2019. The price then decreased further to 4.18 US dollars per kg in 2020 and rose again to 5.15 US dollars per kg in 2021. Based on this trend, it is likely that the import price per kilogram of Olive Oil into Singapore will remain around the 5 US dollar mark in 2023 and 2024.Export values for Singapore olive oil
The total values in export for olive oil in Singapore were US$ 2,635, US$ 2,274, US$ 2,586 and US$ 1,507 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
Prices of other produce in the Processed category in Singapore: Milk & Cream, Yogurt, Kefir & Buttermilk, Whey, Butter, Cheese, Natural Honey, Coffee, Green Tea & Black Tea.
See prices of olive oil in other countries across Asia: Kazakhstan olive oil, Kyrgyzstan olive oil, Tajikistan olive oil, Turkmenistan olive oil, Uzbekistan olive oil, China olive oil, Hong Kong olive oil, Macao olive oil, North Korea olive oil & Mongolia olive oil.
Singapore olive oil - Production, Exports, Imports, Seasons and HS Codes
The quantity of olive oil shipped by Singapore in 2020 was 321 metric tons. In 2019 Singapore shipped 349 tonnes of olive oil. For the year 2019 alone, the interest in Singapore olive oil (processed category) has reduced, with a change of -27.14 pc compared to the year 2018. Between 2017 and 2019, olive oil's exports reduced by -34.77 pc netting Singapore US$1.51m for the year 2019. Singapore's olive oil exports are classified as:
- Virgin olive oil and its fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (HS code 150910)
- Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other physical means under conditions that do not lead to deterioration of the oil (excluding virgin and chemically modified) (HS code 150990)
- Other oils and their fractions, obtained solely from olives, whether or not refined, but not chemically modified, incl. blends of these oils or fractions with oils or fractions of heading 1509 (HS code 151000)
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Singapore olive oil export values
In 2019, Singapore exported olive oil with a value of 1.51m USD, a decrease of -41.61% from 2018's total olive oil export of 2.586m USD. The yearly change in value of Singapore olive oil between 2017 to 2018 was 13.72 pc.
The per year change in the volume of Singapore's olive oil exports between 2017 and 2019 was -34.77 pc compared to a variation of -27.14% in the period between 2018 and 2019.
Singapore's share of the world's total olive oil's exports in 2019 was less than 1%. Singapore holds number 40 in world exports of olive oil.
Export markets for Singapore olive oil ( in '000$ )
Singapore's top destinations for olive oil are US, Australia, Hong Kong, Japan and Timor-Leste.
Import/Export Trends
Singapore is a net importer of olive oil. The annual growth of Singapore olive oil in value between 2015 to 2019 was -10%, per year, while annual growth in quantity through the same period was -13%, per annum.
Singapore procured 4,349 tonnes of olive oil in 2019.