Malaysia: Beef Market 2024

Beef Market Size in Malaysia

The Malaysian beef market rose significantly to $X in 2021, growing by 7.1% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in the immediate term.

Beef Production in Malaysia

In value terms, beef production totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 11% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

In 2021, the average yield of beef (cattle meat) in Malaysia shrank modestly to X kg per head, therefore, remained relatively stable against the previous year's figure. In general, the yield showed a noticeable decline. The pace of growth was the most pronounced in 2018 when the yield increased by 13% against the previous year. The beef yield peaked at X kg per head in 2019; however, from 2020 to 2021, the yield remained at a lower figure.

In 2021, approx. X heads of animals slaughtered for beef production in Malaysia; remaining stable against 2020 figures. Overall, the number of producing animals continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the number of producing animals increased by 30%. Over the period under review, this number reached the maximum level at X heads in 2015; however, from 2016 to 2021, producing animals stood at a somewhat lower figure.

Beef Exports

Exports from Malaysia

In 2021, shipments abroad of beef (cattle meat) increased by 18% to X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 111%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, beef exports reduced to $X in 2021. In general, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of 97% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), Singapore (X tons) and Vietnam (X tons) were the main destinations of beef exports from Malaysia, together accounting for 93% of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of -4.7%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for beef exported from Malaysia were Singapore ($X), Thailand ($X) and Vietnam ($X), with a combined 94% share of total exports.

Among the main countries of destination, Thailand, with a CAGR of -1.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average beef export price stood at $X per ton in 2021, shrinking by -21.8% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 13%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then dropped remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to New Zealand ($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 Qatar (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Malaysia

Beef imports into Malaysia rose to X tons in 2021, increasing by 2.4% on 2020 figures. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 16%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, beef imports totaled $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 15%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, India (X tons) constituted the largest beef supplier to Malaysia, with a 85% share of total imports. Moreover, beef imports from India exceeded the figures recorded by the second-largest supplier, Australia (X tons), more than tenfold. Brazil (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India stood at +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-4.9% per year) and Brazil (+31.6% per year).

In value terms, India ($X) constituted the largest supplier of beef (cattle meat) to Malaysia, comprising 76% of total imports. The second position in the ranking was held by Australia ($X), with a 12% share of total imports. It was followed by Brazil, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+0.8% per year) and Brazil (+31.3% per year).

Import Prices by Country

In 2021, the average beef import price amounted to $X per ton, with an increase of 6.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 10%. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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