What is the price of soyabean oil per kilogram/pound in Singapore today?
The retail price range for Singapore soyabean oil is between US$ 0.36 and US$ 0.42 per kilogram or between US$ 0.16 and US$ 0.19 per pound(lb). Click here to see today's exact prices of soyabean oil in Singapore
The retail price range in Singapore Dollar for soyabean oil is between SGD 0.48 and SGD 0.57 per kilogram or between SGD 0.22 and SGD 0.26 per pound(lb) in Singapore and Bishan.
Wholesale prices
In 2024, the approximate wholesale price range for Singapore soyabean oil is between US$ 0.25 and US$ 0.29 per kilogram or between US$ 0.11 and US$ 0.13 per pound(lb).
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Singapore Soyabean Oil Export Prices - Historical, Trends and Prediction
The export price per kilogram of Soyabean oil from Singapore has seen a steady decline over the last five years. In 2021, the price was recorded at US$1.71 per kg, which is the highest in the last five years. In 2020, the price was US$1.32 per kg, followed by US$1.25 per kg in 2019. In 2018, the price was US$1.26 per kg, which was the same as in 2017. In 2016, the price was US$1.21 per kg, and in 2015, the price was US$1.18 per kg. The lowest price in the last five years was recorded in 2014, at US$1.31 per kg. Based on this trend, it is predicted that the export price per kilogram of Soyabean oil from Singapore will be US$1.17 in 2023 and US$1.12 in 2024.The Singapore soyabean oil exports are categorised as:
- Soya-bean oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 150790)
- Crude soya-bean oil, whether or not degummed (HS code 150710)
Singapore Soyabean Oil Import Prices - Historical, Trends and Prediction
The import price per kilogram of Soyabean oil into Singapore has seen a steady decline over the past five years. In 2012, the price was $1.61, and by 2016, it had dropped to $1.21. In 2017, the price rose slightly to $1.26, before dropping again to $1.25 in 2019. This year, the price has increased to $1.32. Looking ahead, it is likely that the price of Soyabean oil will continue to fluctuate, but it is predicted that the price in 2023 will be around $1.50, and in 2024, it will be around $1.60.Export values for Singapore soyabean oil
The total values in export for soyabean oil in Singapore were US$ 6,497, US$ 5,135, US$ 5,979 and US$ 4,894 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 soyabean oil in other countries across Asia: Kazakhstan soyabean oil, Kyrgyzstan soyabean oil, Tajikistan soyabean oil, Turkmenistan soyabean oil, Uzbekistan soyabean oil, China soyabean oil, Hong Kong soyabean oil, Macao soyabean oil, North Korea soyabean oil & Mongolia soyabean oil.
Singapore soyabean oil - Production, Exports, Imports, Seasons and HS Codes
The volume of soyabean oil exported by Singapore in 2020 was 3,389 metric tonnes. In 2019 Singapore shipped 3,912 tonnes of soyabean oil. For the year 2019 alone, the demand for Singapore soyabean oil (processed category) has gone down, changing by -17.659 percent compared to the year 2018. Between 2017 and 2019, soyabean oil's exports decreased by -4.09% earning the nation US$4.89m for the year 2019. Singapore's soyabean oil exports are classified as:
- Soya-bean oil and its fractions, whether or not refined (excluding chemically modified and crude) (HS code 150790)
- Crude soya-bean oil, whether or not degummed (HS code 150710)
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Singapore soyabean oil export values
In 2019, Singapore sold soyabean oil with a value of 4.89m USD, a reduction of -18.21% from 2018's total soyabean oil export of 5.979m USD. The annual reduction in value of Singapore soyabean oil between 2017 to 2018 was 16.436 pc.
The yearly change in the amount of Singapore's soyabean oil exports between 2017 and 2019 was -4.09 pc when compared to a variation of -17.659% in the growth rate between 2018 and 2019.
Singapore's share of the world's total soyabean oil's exports in 2019 was less than 1%. Singapore holds position 22 in world exports of soyabean oil.
Export markets for Singapore soyabean oil ( in '000$ )
Singapore's leading destinations for soyabean oil are Indonesia, Kuwait, Fiji, Australia and the Philippines.
Import/Export Trends
Singapore is a net importer of soyabean oil. The annual growth of Singapore soyabean oil in value between 2015 to 2019 was -32%, per year, while annual growth in quantity for the same period was -29%, per annum.
Singapore imported 16,692 tonnes of soyabean oil in 2019.