Malaysia: Preserved Beef Market 2024

Preserved Beef Market Size in Malaysia

The Malaysian preserved beef market reduced notably to $X in 2021, declining by -19.6% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Preserved beef consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Preserved Beef Production in Malaysia

In value terms, preserved beef production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 30%. As a result, production reached the peak level of $X, and then fell in the following year.

Preserved Beef Exports

Exports from Malaysia

In 2021, shipments abroad of beef and veal (salted, in brine, dried or smoked) increased by 20% to X tons, rising for the second year in a row after three years of decline. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 9,243% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, preserved beef exports contracted modestly to $X in 2021. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 9,498% against the previous year. As a result, the exports reached the peak of $X, and then dropped modestly in the following year.

Exports by Country

Thailand (X tons) was the main destination for preserved beef exports from Malaysia, with a 98% share of total exports. It was followed by Hong Kong SAR (X tons), with a 1.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand totaled +116.5%.

In value terms, Thailand ($X) remains the key foreign market for beef and veal (salted, in brine, dried or smoked) exports from Malaysia, comprising 91% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 8.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand totaled +162.9%.

Export Prices by Country

In 2021, the average preserved beef export price amounted to $X per ton, shrinking by -19.3% against the previous year. In general, the export price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Thailand totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+21.5%).

Preserved Beef Imports

Imports into Malaysia

In 2021, supplies from abroad of beef and veal (salted, in brine, dried or smoked) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 5,146%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved beef imports surged to $X in 2021. Overall, imports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 when imports increased by 3,330% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest preserved beef supplier to Malaysia, accounting for a 82% share of total imports. Moreover, preserved beef imports from China exceeded the figures recorded by the second-largest supplier, Australia (X kg), more than tenfold. Spain (X kg) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-5.4% per year) and Spain (+63.3% per year).

In value terms, China ($X), France ($X) and Myanmar ($X) constituted the largest preserved beef suppliers to Malaysia, together comprising 64% of total imports. Spain, Australia and the United States lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Spain, with a CAGR of +152.3%, 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

In 2021, the average preserved beef import price amounted to $X per ton, jumping by 56% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved beef import price increased by +161.5% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Myanmar ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+34.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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