Malaysia: Cream Fresh Market 2024

Cream Fresh Market Size in Malaysia

In 2022, the Malaysian cream fresh market decreased by -27.3% to $X for the first time since 2015, thus ending a six-year rising trend. In general, consumption, however, saw a prominent increase. Cream fresh consumption peaked at $X in 2021, and then dropped remarkably in the following year.

Cream Fresh Production in Malaysia

In value terms, cream fresh production expanded slightly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 61%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Cream Fresh Exports

Exports from Malaysia

In 2022, overseas shipments of cream fresh decreased by -17.6% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 120%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, cream fresh exports expanded notably to $X in 2022. Over the period under review, exports, however, showed a buoyant increase. The growth pace was the most rapid in 2015 when exports increased by 130%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Thailand (X tons) was the main destination for cream fresh exports from Malaysia, accounting for a 73% share of total exports. Moreover, cream fresh exports to Thailand exceeded the volume sent to the second major destination, Brunei Darussalam (X tons), sixfold. The third position in this ranking was taken by Singapore (X tons), with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled +64.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (+2.6% per year) and Singapore (+8.7% per year).

In value terms, the largest markets for cream fresh exported from Malaysia were Brunei Darussalam ($X), Thailand ($X) and Singapore ($X), with a combined 95% share of total exports.

Among the main countries of destination, Thailand, with a CAGR of +72.7%, 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 more modest paces of growth.

Export Prices by Country

The average cream fresh export price stood at $X per ton in 2022, with an increase of 36% against the previous year. Overall, the export price showed a resilient expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 53% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Myanmar ($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 the Philippines (+27.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cream Fresh Imports

Imports into Malaysia

In 2022, after six years of growth, there was significant decline in supplies from abroad of cream fresh, when their volume decreased by -36.4% to X tons. Over the period under review, imports, however, continue to indicate a notable increase. The pace of growth was the most pronounced in 2018 with an increase of 41% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank rapidly in the following year.

In value terms, cream fresh imports shrank dramatically to $X in 2022. In general, imports, however, posted a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 41%. Imports peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

In 2022, Australia (X tons) constituted the largest cream fresh supplier to Malaysia, accounting for a 51% share of total imports. Moreover, cream fresh imports from Australia exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), twofold. The third position in this ranking was held by Singapore (X tons), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-2.1% per year) and Singapore (-12.1% per year).

In value terms, the largest cream fresh suppliers to Malaysia were Australia ($X), New Zealand ($X) and Denmark ($X), with a combined 75% share of total imports.

Among the main suppliers, Australia, with a CAGR of +31.0%, recorded 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 cream fresh import price stood at $X per ton in 2022, with an increase of 20% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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