Malaysia: Apricot Market 2022

Apricot Market Size in Malaysia

The Malaysian apricot market expanded remarkably to $X in 2021, surging by X% against 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). In general, the total consumption indicated a modest expansion from 2012 to 2021: its value decreased at an average annual rate of -X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -X% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Apricot Exports

Exports from Malaysia

Apricot exports from Malaysia skyrocketed to X kg in 2021, rising by X% on 2020. Overall, exports posted a resilient expansion. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, apricot exports skyrocketed to $X in 2021. In general, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Thailand (X kg), Vietnam (X kg) and Singapore (X kg) were the main destinations of apricot exports from Malaysia, with a combined X% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (+X%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Singapore ($X) and Thailand ($X) were the largest markets for apricot exported from Malaysia worldwide, together accounting for X% of total exports.

Vietnam, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average apricot export price stood at $X per tonne in 2021, picking up by X% against the previous year. In general, the export price, however, recorded a perceptible setback. The export price peaked at $X per tonne in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Brunei Darussalam ($X per tonne), while the average price for exports to Thailand ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Apricot Imports

Imports into Malaysia

In 2021, supplies from abroad of apricots was finally on the rise to reach X tonnes after two years of decline. In general, imports, however, continue to indicate a slight descent. The pace of growth was the most pronounced in 2018 when imports increased by X% y-o-y. As a result, imports attained the peak of X tonnes. From 2019 to 2021, the growth imports remained at a somewhat lower figure.

In value terms, apricot imports amounted to $X in 2021. Overall, total imports indicated a perceptible increase from 2012 to 2021: its value decreased at an average annual rate of -X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% y-o-y. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tonnes) constituted the largest supplier of apricot to Malaysia, accounting for a X% share of total imports. Moreover, apricot imports from Turkey exceeded the figures recorded by the second-largest supplier, Egypt (X tonnes), sixfold. The third position in this ranking was occupied by Australia (X tonnes), with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+X% per year) and Australia (+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 Singapore, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Turkey amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+X% per year) and Singapore (-X% per year).

Import Prices by Country

In 2021, the average apricot import price amounted to $X per tonne, falling by -X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per tonne, and then fell in the following year.

Prices varied noticeably by the country of origin: the country with the highest price was Australia ($X per tonne), while the price for Egypt ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform