Price for Food Preparations Not Elsewhere Specified or Included in Malaysia - 2024
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in Malaysia (CIF) - 2022
- Price for Food Preparations Not Elsewhere Specified or Included in Malaysia (FOB) - 2024
- Imports of Food Preparations Not Elsewhere Specified or Included in Malaysia
- Exports of Food Preparations Not Elsewhere Specified or Included in Malaysia
Price for Food Preparations Not Elsewhere Specified or Included in Malaysia (CIF) - 2022
The average import price for food preparations not elsewhere specified or included stood at $4,697 per ton in 2022, which is down by -5% against the previous year. Over the period under review, the import price recorded a mild decrease. The growth pace was the most rapid in 2021 when the average import price increased by 19%. The import price peaked at $5,397 per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($22,237 per ton), while the price for New Zealand ($653 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Food Preparations Not Elsewhere Specified or Included in Malaysia (FOB) - 2024
The average export price for food preparations not elsewhere specified or included stood at $2,537 per ton in January 2024, reducing by -4.3% against the previous month. Overall, the export price continues to indicate a mild contraction. The pace of growth appeared the most rapid in October 2023 when the average export price increased by 6% m-o-m. The export price peaked at $3,174 per ton in January 2023; however, from February 2023 to January 2024, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was China ($3,774 per ton), while the average price for exports to Russia ($1,623 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Food Preparations Not Elsewhere Specified or Included in Malaysia
In 2022, the amount of food preparations not elsewhere specified or included imported into Malaysia rose significantly to 234K tons, picking up by 8% against 2021 figures. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +14.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.6% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 20%. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in the immediate term.
In value terms, imports of food preparations not elsewhere specified or included expanded modestly to $1.1B in 2022. Overall, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +15.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the near future.
| Import of Food Preparations Not Elsewhere Specified or Included in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 216 | 216 | 305 | 356 | 18.1% |
| United States | 134 | 152 | 231 | 189 | 12.1% |
| Indonesia | 59.9 | 81.7 | 116 | 127 | 28.5% |
| China | 58.4 | 79.5 | 84.6 | 125 | 28.9% |
| Thailand | 27.9 | 26.2 | 32.4 | 36.2 | 9.1% |
| Taiwan (Chinese) | 27.3 | 30.7 | 37.8 | 35.7 | 9.4% |
| South Korea | 7.9 | 12.9 | 40.2 | 24.9 | 46.6% |
| Denmark | 19.8 | 22.0 | 23.9 | 23.9 | 6.5% |
| Australia | 15.8 | 14.7 | 24.4 | 19.3 | 6.9% |
| Vietnam | 6.0 | 5.5 | 8.6 | 11.7 | 24.9% |
| New Zealand | 8.6 | 6.9 | 10.1 | 10.6 | 7.2% |
| Philippines | 5.4 | 7.1 | 7.9 | 8.6 | 16.8% |
| Others | 126 | 120 | 146 | 130 | 1.0% |
| Total | 713 | 776 | 1,069 | 1,098 | 15.5% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Malaysia in 2022:
- Indonesia (59.7K tons)
- China (42.0K tons)
- United States (36.8K tons)
- New Zealand (16.2K tons)
- Singapore (16.0K tons)
- Thailand (11.6K tons)
- Denmark (9.7K tons)
- Taiwan (Chinese) (6.7K tons)
- Vietnam (5.7K tons)
- Philippines (5.2K tons)
- South Korea (3.7K tons)
- Australia (2.8K tons)
Exports of Food Preparations Not Elsewhere Specified or Included in Malaysia
In 2022, approx. 332K tons of food preparations not elsewhere specified or included were exported from Malaysia; surging by 4% against 2021 figures. The total export volume increased at an average annual rate of +5.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 32%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.
In value terms, exports of food preparations not elsewhere specified or included expanded significantly to $928M in 2022. The total export value increased at an average annual rate of +10.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
| Export of Food Preparations Not Elsewhere Specified or Included in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 68.8 | 61.9 | 84.8 | 112 | 17.6% |
| Singapore | 73.7 | 84.8 | 96.4 | 102 | 11.4% |
| Philippines | 56.4 | 54.5 | 62.5 | 83.2 | 13.8% |
| Vietnam | 44.2 | 43.4 | 51.9 | 70.5 | 16.8% |
| Turkey | 23.2 | 24.1 | 25.5 | 52.3 | 31.1% |
| Australia | 43.1 | 35.9 | 40.9 | 44.0 | 0.7% |
| Thailand | 36.6 | 39.0 | 41.5 | 41.3 | 4.1% |
| Taiwan (Chinese) | 29.5 | 30.1 | 34.4 | 39.7 | 10.4% |
| China | 62.0 | 59.0 | 55.1 | 37.5 | -15.4% |
| United Arab Emirates | 17.7 | 13.6 | 24.4 | 32.7 | 22.7% |
| South Korea | 15.5 | 14.8 | 25.8 | 29.8 | 24.3% |
| Japan | 26.0 | 20.1 | 30.2 | 28.6 | 3.2% |
| Russia | 16.9 | 14.0 | 19.4 | 14.2 | -5.6% |
| Others | 167 | 167 | 226 | 241 | 13.0% |
| Total | 681 | 662 | 819 | 928 | 10.9% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Malaysia in 2022:
- Singapore (44.6K tons)
- Indonesia (39.5K tons)
- Philippines (29.4K tons)
- Vietnam (24.6K tons)
- Turkey (20.4K tons)
- Japan (17.8K tons)
- Australia (17.6K tons)
- Taiwan (Chinese) (16.5K tons)
- United Arab Emirates (14.1K tons)
- Thailand (13.2K tons)
- China (13.0K tons)
- South Korea (12.9K tons)
- Russia (7.6K tons)
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