Malaysia: Butter And Ghee Market 2024

Butter And Ghee Market Size in Malaysia

In 2022, after five years of growth, there was decline in the Malaysian butter and ghee market, when its value decreased by X% to $X. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2016 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank slightly in the following year.

Butter And Ghee Exports

Exports from Malaysia

In 2022, overseas shipments of butter and ghee were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports recorded buoyant growth. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, butter and ghee exports surged to $X in 2022. Over the period under review, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), Vietnam (X tons) and Singapore (X tons) were the main destinations of butter and ghee exports from Malaysia, with a combined X% share of total exports. The United Arab Emirates, Brunei Darussalam, Papua New Guinea, Indonesia, Taiwan (Chinese), the Philippines, Qatar, Oman, Trinidad and Tobago and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Papua New Guinea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for butter and ghee exported from Malaysia were Singapore ($X), the United Arab Emirates ($X) and Brunei Darussalam ($X), with a combined X% share of total exports. Vietnam, China, Taiwan (Chinese), Qatar, Trinidad and Tobago, Oman, Indonesia, Papua New Guinea, the Philippines and Saudi Arabia lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, saw 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 butter and ghee export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced remarkably 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 Brunei Darussalam ($X per ton), while the average price for exports to Papua New Guinea ($X 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 Qatar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Butter And Ghee Imports

Imports into Malaysia

Butter and ghee imports into Malaysia rose to X tons in 2022, increasing by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, butter and ghee imports surged to $X in 2022. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of butter and ghee to Malaysia, accounting for a X% share of total imports. Moreover, butter and ghee imports from New Zealand exceeded the figures recorded by the second-largest supplier, Denmark (X tons), ninefold. Australia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and Australia (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of butter and ghee to Malaysia, comprising X% of total imports. The second position in the ranking was taken by Denmark ($X), with an X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and Australia (X% per year).

Import Prices by Country

In 2022, the average butter and ghee import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and ghee import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and France ($X per ton), while the price for Australia ($X per ton) and New Zealand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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