Malaysia: Animal Fats Market 2025

Animal Fats Market Size in Malaysia

The Malaysian animal fats market dropped significantly to $X in 2021, waning by -17.1% against the previous year. Overall, consumption, however, showed strong growth. As a result, consumption reached the peak level of $X, and then shrank remarkably in the following year.

Animal Fats Production in Malaysia

In value terms, animal fats production reduced rapidly to $X in 2021 estimated in export price. In general, production, however, recorded resilient growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 60% against the previous year. As a result, production attained the peak level of $X, and then dropped significantly in the following year.

Animal Fats Exports

Exports from Malaysia

In 2021, shipments abroad of animal fats and oils decreased by -25.2% to X tons, falling for the fourth year in a row after six years of growth. Over the period under review, exports faced a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 39% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, animal fats exports contracted markedly to $X in 2021. Overall, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2016 with an increase of 49%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Oman (X tons) was the main destination for animal fats exports from Malaysia, accounting for a 50% share of total exports. Moreover, animal fats exports to Oman exceeded the volume sent to the second major destination, Sudan (X tons), twofold. Bahrain (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Oman amounted to -12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (+11.9% per year) and Bahrain (-20.2% per year).

In value terms, Oman ($X) remains the key foreign market for animal fats and oils exports from Malaysia, comprising 52% of total exports. The second position in the ranking was taken by Sudan ($X), with a 21% share of total exports. It was followed by Bahrain, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Oman totaled -10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (+19.4% per year) and Bahrain (-20.0% per year).

Export Prices by Country

In 2021, the average animal fats export price amounted to $X per ton, which is down by -11.4% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, animal fats export price decreased by -29.9% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of 72%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

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 China ($X per ton), while the average price for exports to Yemen ($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 Chile (+60.9%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Fats Imports

Imports into Malaysia

In 2021, supplies from abroad of animal fats and oils increased by 548% to X tons, rising for the fourth year in a row after two years of decline. Overall, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2015 when imports increased by 1,005% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, animal fats imports surged to $X in 2021. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 906%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Australia (X tons) was the main animal fats supplier to Malaysia, with a 93% share of total imports. Moreover, animal fats imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. Switzerland (X kg) ranked third in terms of total imports with a 0.9% share.

From 2012 to 2021, the average annual growth rate of volume from Australia totaled +2,758.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+45.1% per year) and Switzerland (-4.7% per year).

In value terms, Australia ($X) constituted the largest supplier of animal fats and oils to Malaysia, comprising 83% of total imports. The second position in the ranking was held by China ($X), with a 5% share of total imports. It was followed by Switzerland, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value from Australia amounted to +1,407.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+56.5% per year) and Switzerland (+4.7% per year).

Import Prices by Country

The average animal fats import price stood at $X per ton in 2021, dropping by -16.1% against the previous year. In general, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2018 when the average import price increased by 35% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :