Malaysia: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in Malaysia

After four years of growth, the Malaysian preserved anchovies market decreased by -4% to $X in 2021. Over the period under review, consumption, however, continues to indicate a moderate increase. Preserved anchovies consumption peaked at $X in 2020, and then contracted slightly in the following year.

Preserved Anchovies Production in Malaysia

In value terms, preserved anchovies production contracted to $X in 2021 estimated in export price. Overall, production, however, saw resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 54% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then contracted modestly in the following year.

Preserved Anchovies Exports

Exports from Malaysia

In 2021, overseas shipments of anchovies (prepared or preserved) decreased by -24.3% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, recorded a moderate increase. The pace of growth appeared the most rapid in 2015 with an increase of 76%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved anchovies exports reduced remarkably to $X in 2021. Over the period under review, total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +12.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 81% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for preserved anchovies exports from Malaysia, accounting for a 41% share of total exports. Moreover, preserved anchovies exports to Australia exceeded the volume sent to the second major destination, Brunei Darussalam (X tons), twofold. The Philippines (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (+2.0% per year) and the Philippines (+37.5% per year).

In value terms, Australia ($X), Singapore ($X) and Brunei Darussalam ($X) constituted the largest markets for preserved anchovies exported from Malaysia worldwide, together comprising 74% of total exports. Indonesia, the Philippines and the UK lagged somewhat behind, together accounting for a further 25%.

In terms of the main countries of destination, the Philippines, with a CAGR of +39.2%, 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 preserved anchovies export price stood at $X per ton in 2021, growing by 8.3% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Anchovies Imports

Imports into Malaysia

In 2021, after two years of decline, there was significant growth in overseas purchases of anchovies (prepared or preserved), when their volume increased by 212% to X tons. Over the period under review, imports, however, showed a significant curtailment. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved anchovies imports surged to $X in 2021. In general, imports, however, showed a abrupt curtailment. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Vietnam (X tons) and China (X tons) were the main suppliers of preserved anchovies imports to Malaysia, with a combined 67% share of total imports. These countries were followed by Denmark, Thailand, the UK and the Philippines, which together accounted for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +82.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Denmark ($X) appeared to be the largest preserved anchovies suppliers to Malaysia, with a combined 65% share of total imports. These countries were followed by Thailand, Vietnam, the UK and the Philippines, which together accounted for a further 24%.

In terms of the main suppliers, the Philippines, with a CAGR of +29.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average preserved anchovies import price stood at $X per ton in 2021, which is down by -31.1% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 an increase of 28%. As a result, import price attained the peak level of $X per ton, and then dropped dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+13.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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