The import volume of herbicides, anti-sprouting products, and plant-growth regulators to Singapore has shown a declining trend from 9.44 million kilograms in 2013 to 3.83 million kilograms in 2023. There were fluctuations with minor growth shown in 2018, but the overall trend remained negative. A significant decrease was observed, particularly between 2013 to 2016. The year-on-year variations further emphasize this decline, with -5.25% in 2023 alone. The compound annual growth rate (CAGR) over the last five years indicates an average annual decline of -6.39%.
Future trends to watch for include:
- The continuation of the declining pattern, with the import volume forecasted to drop to 2.72 million kilograms by 2028.
- A forecasted 5-year CAGR of -5.42%. This points to a predicted decrease in import volumes accelerating over the next five years.
- Potential regulatory changes and a shift towards sustainable agricultural practices which might impact import volumes.
