The import of fungicides to Singapore exhibited fluctuations from 2013 to 2023, with a notable decrease in volume from 2013 to 2015, followed by slight increases and decreases in the subsequent years. By 2023, import volume stood at 2.9731 million kilograms. Year-on-year variations over the past two years showed an increase of 0.81% in 2022 and 0.79% in 2023. The annual average variation over the last five years is reflected by a CAGR of 0.57%.
Projection into future years shows continued modest growth, with forecasts suggesting a 5-year CAGR of 0.57% and an overall growth rate of 2.9% by 2028. This indicates a stable demand for fungicides with limited but steady increases.
Future Trends to Watch:
- Potential changes in agricultural practices and crop protection regulations.
- Technological advancements in fungicides and their impact on import volumes.
- Economic factors affecting agricultural imports and overall market demand for fungicides in Singapore.
