Malaysia: Apricot Market Overview 2021

Apricot Market Size in Malaysia

The Malaysian apricot market was estimated at $X in 2019, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Over the period under review, the market reached the peak level in 2019 and is expected to retain growth in the immediate term.

Apricot Exports

Exports from Malaysia

In 2019, overseas shipments of apricots increased by X% to X tonnes, rising for the second consecutive year after three years of decline. Overall, exports, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% year-to-year. Exports peaked at X tonnes in 2014; however, from 2015 to 2019, exports stood at a somewhat lower figure.

In value terms, apricot exports surged to $X in 2019. Over the period under review, total exports indicated a perceptible increase from 2007 to 2019: its value decreased at an average annual rate of -X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, exports hit record highs at $X in 2015; however, from 2016 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tonnes), Brunei Darussalam (X tonnes) and Singapore (X kg) were the main destinations of apricot exports from Malaysia, together accounting for X% of total exports.

From 2007 to 2019, the biggest increases were in Brunei Darussalam, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brunei Darussalam ($X) emerged as the key foreign market for apricot exports from Malaysia, comprising X% of total exports. The second position in the ranking was occupied by Thailand ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value to Brunei Darussalam totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+X% per year) and Singapore (+X% per year).

Export Prices by Country

In 2019, the average apricot export price amounted to $X per tonne, increasing by X% against the previous year. Overall, export price indicated a buoyant expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2012 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2016; however, from 2017 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Brunei Darussalam ($X per tonne), while the average price for exports to the Netherlands ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Thailand, while the prices for the other major destinations experienced more modest paces of growth.

Apricot Imports

Imports into Malaysia

In 2019, the amount of apricots imported into Malaysia contracted rapidly to X tonnes, waning by -X% against the year before. In general, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tonnes, and then plummeted in the following year.

In value terms, apricot imports expanded markedly to $X in 2019. Over the period under review, imports, however, saw prominent growth. The pace of growth was the most pronounced in 2011 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Turkey (X tonnes) constituted the largest apricot supplier to Malaysia, with a X% share of total imports. Moreover, apricot imports from Turkey exceeded the figures recorded by the second-largest supplier, Australia (X tonnes), twofold. The third position in this ranking was occupied by Egypt (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Turkey totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+X% per year) and Egypt (+X% per year).

In value terms, Turkey ($X) constituted the largest supplier of apricot to Malaysia, comprising X% of total imports. The second position in the ranking was occupied by Australia ($X), with a X% share of total imports. It was followed by South Africa, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Turkey totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+X% per year) and South Africa (+X% per year).

Import Prices by Country

The average apricot import price stood at $X per tonne in 2019, rising by X% against the previous year. Overall, import price indicated mild growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per tonne in 2013; however, from 2014 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Greece ($X per tonne), while the price for Pakistan ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Turkey, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for apricots in the world?

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The countries with the highest volumes of apricot consumption in 2019 were Turkey (813K tonnes), Uzbekistan (479K tonnes) and Iran (329K tonnes), with a combined 39% share of global consumption.

What are the largest producers of apricots in the world?

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The countries with the highest volumes of apricot production in 2019 were Turkey (847K tonnes), Uzbekistan (537K tonnes) and Iran (330K tonnes), with a combined 41% share of global production.

What are the leading suppliers of apricots to Malaysia?

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In value terms, Turkey ($275K) constituted the largest supplier of apricot to Malaysia, comprising 61% of total imports. The second position in the ranking was occupied by Australia ($95K), with a 21% share of total imports. It was followed by South Africa, with a 4.5% share.

What are the leading importers of apricots from Malaysia?

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In value terms, Brunei Darussalam ($6.8K) emerged as the key foreign market for apricot exports from Malaysia, comprising 67% of total exports. The second position in the ranking was occupied by Thailand ($2.2K), with a 22% share of total exports. It was followed by Singapore, with a 5.9% share.

What is the average export price for apricots in Malaysia?

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The average apricot export price stood at $3,370 per tonne in 2019, picking up by 6.9% against the previous year.

What is the average import price for apricots in Malaysia?

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The average apricot import price stood at $3,238 per tonne in 2019, picking up by 45% against the previous year.