Malaysia: Pork Market 2023

Pork Market Size in Malaysia

In 2022, the Malaysian pork market was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Pork Production in Malaysia

In value terms, pork production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 32%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The average yield of pork in Malaysia fell to X kg per head in 2022, therefore, remained relatively stable against 2021. Overall, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 12%. As a result, the yield reached the peak level of X kg per head. From 2015 to 2022, the growth of the average pork yield failed to regain momentum.

In 2022, the number of animals slaughtered for pork production in Malaysia amounted to X heads, remaining stable against the previous year's figure. Over the period under review, the number of producing animals recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the number of producing animals increased by 19% against the previous year. As a result, the number of animals produced reached the peak level of X heads. From 2020 to 2022, the growth of this number remained at a lower figure.

Pork Exports

Exports from Malaysia

In 2022, shipments abroad of pork was finally on the rise to reach X tons after six years of decline. In general, exports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 37%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, pork exports expanded notably to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 40% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Brunei Darussalam (X tons) was the main destination for pork exports from Malaysia, accounting for a 86% share of total exports. Moreover, pork exports to Brunei Darussalam exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold. Vietnam (X tons) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brunei Darussalam totaled -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+67.2% per year) and Vietnam (+3.8% per year).

In value terms, Brunei Darussalam ($X) remains the key foreign market for pork exports from Malaysia, comprising 87% of total exports. The second position in the ranking was held by Singapore ($X), with a 5.1% share of total exports. It was followed by Vietnam, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Brunei Darussalam was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+66.8% per year) and Vietnam (+3.9% per year).

Export Prices by Country

The average pork export price stood at $X per ton in 2022, picking up by 2.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2013 when the average export price increased by 38% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Singapore ($X per ton), while the average price for exports to Indonesia ($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 Brunei Darussalam (+2.7%), while the prices for the other major destinations experienced mixed trend patterns.

Pork Imports

Imports into Malaysia

Pork imports into Malaysia fell slightly to X tons in 2022, shrinking by -4.3% compared with the previous year's figure. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +5.3% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 32% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, pork imports fell modestly to $X in 2022. The total import value increased at an average annual rate of +3.0% from 2012 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 2018 when imports increased by 13%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of pork imports to Malaysia, with a combined 66% share of total imports. Spain, Denmark, Canada, Australia, Vietnam and China lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +34.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and Spain ($X) constituted the largest pork suppliers to Malaysia, together accounting for 69% of total imports. The Netherlands, Denmark, Canada, Australia, Vietnam and China lagged somewhat behind, together accounting for a further 28%.

Denmark, with a CAGR of +36.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pork import price stood at $X per ton in 2022, remaining stable against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 23%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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