The forecasted import of rice to Singapore shows a steady increase from 2024 to 2028, with values rising from 222.78 million USD in 2024 to 223.03 million USD in 2028. This indicates a consistent yet marginal growth year-on-year, highlighting a stable demand for imported rice. The year-on-year percentage variation over the last two years shows incremental growth. Analyzing the compound annual growth rate (CAGR) over the last five years presents an average annual increase, signifying a steady market trend.
In 2023, the value of rice imports stood at 222.72 million USD, demonstrating the baseline from which future forecasted values are projected.
Future trends to watch for include changes in global rice production, potential trade agreements, and shifts in consumer preferences towards alternative grains. Additionally, monitoring environmental factors impacting rice yields and logistical developments within the supply chain will be crucial for anticipating future import values.