Malaysia: Salt Market 2022

Salt Market Size in Malaysia

In 2021, the Malaysian salt market increased by X% to $X, rising for the sixth year in a row after two years of decline. In general, consumption recorded a strong increase. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Salt Exports

Exports from Malaysia

In 2021, the amount of salt and pure sodium chloride exported from Malaysia contracted to X tonnes, declining by -X% on the previous year. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tonnes, and then shrank in the following year.

In value terms, salt exports dropped modestly to $X in 2021. Over the period under review, exports, however, showed a measured increase. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Singapore (X tonnes), Hong Kong SAR (X tonnes) and Taiwan (Chinese) (X tonnes) were the main destinations of salt exports from Malaysia, together accounting for X% of total exports. These countries were followed by China, Indonesia, Brunei Darussalam and Japan, which together accounted for a further X 2012 to 2021, the biggest increases were in Japan (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for salt exported from Malaysia were Singapore ($X), Taiwan (Chinese) ($X) and Hong Kong SAR ($X), with a combined X% share of total exports. Japan, China, Indonesia and Brunei Darussalam lagged somewhat behind, together accounting for a further X terms of the main countries of destination, Japan, with a CAGR of +X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average salt export price stood at $X per tonne in 2021, picking up by X% against the previous year. Overall, export price indicated notable growth from 2012 to 2021: its price 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. Based on 2021 figures, salt export price increased by +X% against 2018 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was Taiwan (Chinese) ($X per tonne), while the average price for exports to Hong Kong SAR ($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 Indonesia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Malaysia

In 2021, overseas purchases of salt and pure sodium chloride increased by X% to X tonnes, rising for the sixth consecutive year after two years of decline. In general, imports recorded a tangible increase. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X tonnes. From 2014 to 2021, the growth imports failed to regain momentum.

In value terms, salt imports surged to $X in 2021. Overall, imports showed a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, India (X tonnes) constituted the largest salt supplier to Malaysia, accounting for a X% share of total imports. Moreover, salt imports from India exceeded the figures recorded by the second-largest supplier, China (X tonnes), threefold. Thailand (X tonnes) ranked third in terms of total imports with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Thailand (-X% per year).

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

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

Import Prices by Country

In 2021, the average salt import price amounted to $X per tonne, increasing by X% against the previous year. In general, import price indicated a strong increase from 2012 to 2021: its price 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. Based on 2021 figures, salt import price increased by +X% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per tonne), while the price for India ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform