Malaysia: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in Malaysia

The Malaysian agricultural product dryer market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption enjoyed pronounced growth. Agricultural product dryer consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Agricultural Product Dryer Production in Malaysia

In value terms, agricultural product dryer production totaled $X in 2021 estimated in export price. Overall, production showed a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of 228%. Agricultural product dryer production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Agricultural Product Dryer Exports

Exports from Malaysia

In 2021, shipments abroad of dryers for the treatment of agricultural products decreased by -56.9% to X units, falling for the third year in a row after three years of growth. Over the period under review, exports saw a noticeable slump. The pace of growth was the most pronounced in 2018 when exports increased by 159% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, agricultural product dryer exports contracted remarkably to $X in 2021. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 160% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X units) was the main destination for agricultural product dryer exports from Malaysia, with a 83% share of total exports. Moreover, agricultural product dryer exports to Indonesia exceeded the volume sent to the second major destination, Cote d'Ivoire (X units), more than tenfold. The third position in this ranking was held by Sri Lanka (X units), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+14.7% per year) and Sri Lanka (0.0% per year).

In value terms, Indonesia ($X) remains the key foreign market for dryers for the treatment of agricultural products exports from Malaysia, comprising 67% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with an 18% share of total exports. It was followed by Australia, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value to Indonesia stood at -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+58.0% per year) and Australia (+200.5% per year).

Export Prices by Country

In 2021, the average agricultural product dryer export price amounted to $X per unit, shrinking by -35.3% against the previous year. Over the period under review, the export price showed a pronounced decline. The most prominent rate of growth was recorded in 2020 an increase of 65%. Over the period under review, the average export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, the 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 Cote d'Ivoire ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+30.8%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Product Dryer Imports

Imports into Malaysia

In 2021, the amount of dryers for the treatment of agricultural products imported into Malaysia dropped to X units, falling by -8.7% against the year before. In general, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 325% against the previous year. Imports peaked at X units in 2020, and then fell in the following year.

In value terms, agricultural product dryer imports dropped slightly to $X in 2021. Overall, imports, however, recorded a strong increase. The pace of growth was the most pronounced in 2017 with an increase of 211%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Italy (X units) constituted the largest agricultural product dryer supplier to Malaysia, accounting for a 33% share of total imports. Moreover, agricultural product dryer imports from Italy exceeded the figures recorded by the second-largest supplier, the UK (X units), twofold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at +56.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+76.0% per year) and Taiwan (Chinese) (+34.1% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of dryers for the treatment of agricultural products to Malaysia, comprising 46% of total imports. The second position in the ranking was held by Italy ($X), with a 22% share of total imports. It was followed by China, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) amounted to +32.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+149.2% per year) and China (+3.1% per year).

Import Prices by Country

The average agricultural product dryer import price stood at $X per unit in 2021, picking up by 6% against the previous year. Over the period under review, the import price, however, recorded a noticeable downturn. The growth pace was the most rapid in 2014 an increase of 172% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+6.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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