Malaysia: Cheese And Curd Market 2024

Cheese And Curd Market Size in Malaysia

The Malaysian cheese and curd market declined modestly to $X in 2022, reducing by -2.1% against the previous year. Overall, consumption saw a noticeable descent. Cheese and curd consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Cheese And Curd Production in Malaysia

In value terms, cheese and curd production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced reduction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 25% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Cheese And Curd Exports

Exports from Malaysia

In 2022, shipments abroad of cheese and curd decreased by -2.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 192%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined modestly in the following year.

In value terms, cheese and curd exports shrank to $X in 2022. Over the period under review, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by 196% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Brunei Darussalam (X tons), Trinidad and Tobago (X tons) and Singapore (X tons) were the main destinations of cheese and curd exports from Malaysia, with a combined 65% share of total exports. Mauritius, Hong Kong SAR, Guyana, Maldives and Turkey lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of +103.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brunei Darussalam ($X) remains the key foreign market for cheese and curd exports from Malaysia, comprising 48% of total exports. The second position in the ranking was held by Singapore ($X), with a 17% share of total exports. It was followed by Trinidad and Tobago, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Brunei Darussalam amounted to +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-0.8% per year) and Trinidad and Tobago (-1.7% per year).

Export Prices by Country

The average cheese and curd export price stood at $X per ton in 2022, waning by -4% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 19% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+8.2%), while the prices for the other major destinations experienced mixed trend patterns.

Cheese And Curd Imports

Imports into Malaysia

In 2022, approx. X tons of cheese and curd were imported into Malaysia; rising by 8.8% compared with 2021 figures. In general, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -7.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, cheese and curd imports expanded modestly to $X in 2022. Overall, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 31% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Australia (X tons), New Zealand (X tons) and the United States (X tons) were the main suppliers of cheese and curd imports to Malaysia, with a combined 71% share of total imports. Singapore, the UK, Denmark, Ireland and Germany lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +51.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese and curd suppliers to Malaysia were Australia ($X), New Zealand ($X) and the United States ($X), together comprising 67% of total imports. Singapore, Denmark, the UK, Ireland and Germany lagged somewhat behind, together comprising a further 20%.

Ireland, with a CAGR of +45.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cheese and curd import price amounted to $X per ton, falling by -4.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 8.6%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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