Report Update: May 1, 2024

Malaysia - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights

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Virgin Olive Oil Price in Malaysia - 2021

Virgin Olive Oil Price in Malaysia (CIF) - 2021

The average virgin olive oil import price stood at $5,935 per ton in December 2021, rising by 9.4% against the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in September 2021 an increase of 117% m-o-m. As a result, import price attained the peak level of $7,764 per ton. From October 2021 to December 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In December 2021, the country with the highest price was Morocco ($30,584 per ton), while the price for the United Arab Emirates ($1,375 per ton) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Virgin Olive Oil Price in Malaysia (FOB) - 2022

The average virgin olive oil export price stood at $2,471 per ton in 2022, which is down by -30.6% against the previous year. Overall, the export price, however, enjoyed a notable expansion. The growth pace was the most rapid in 2021 an increase of 67%. As a result, the export price attained the peak level of $3,562 per ton, and then contracted dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($19,226 per ton), while the average price for exports to Seychelles ($333 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.

Virgin Olive Oil Imports in Malaysia

In 2022, purchases abroad of virgin olive oil decreased by -4% to 2K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +5.4% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 13%.

In value terms, virgin olive oil imports fell modestly to $10M in 2022. The total import value increased at an average annual rate of +4.3% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 13%.

Import of Virgin Olive Oil in Malaysia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	2.3	2.5	2.8	2.7	5.5%
Spain	1.8	1.8	2.0	1.9	1.8%
Morocco	1.3	2.0	0.6	1.1	-5.4%
Turkey	0.5	0.4	0.6	0.6	6.3%
Cambodia	N/A	0.4	0.7	0.6	22.5%
Others	3.2	3.2	3.8	3.6	4.0%
Total	9.2	10.4	10.4	10.4	4.2%

Top Suppliers of Virgin Olive Oil to Malaysia in 2022:

Cambodia (944.3 tons)
Italy (322.9 tons)
Spain (201.6 tons)
Turkey (84.4 tons)
Morocco (31.6 tons)

Virgin Olive Oil Exports in Malaysia

Virgin olive oil exports from Malaysia soared to 80 tons in 2022, picking up by 118% compared with the previous year. Over the period under review, exports, however, recorded a noticeable setback.

In value terms, virgin olive oil exports soared to $199K in 2022. Overall, exports showed a tangible increase.

Export of Virgin Olive Oil in Malaysia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Qatar	101	168	85.1	131	9.1%
Nigeria	29.0	48.1	24.4	37.6	9.0%
Philippines	3.3	13.1	5.6	7.2	29.7%
Cambodia	22.3	0.6	0.5	5.9	-35.8%
Mauritania	1.8	2.4	1.0	1.2	-12.6%
Others	19.4	34.4	14.6	15.6	-7.0%
Total	177	266	131	199	4.0%

Top Export Markets for Virgin Olive Oil from Malaysia in 2022:

Qatar (68.7 tons)
Nigeria (2.7 tons)
Cambodia (2.6 tons)
Mauritania (2.2 tons)
Philippines (1.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the virgin olive oil market in Malaysia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 261 - Oil of Olives, Virgin

Country coverage:

Malaysia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Malaysia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023