Malaysia: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Malaysia

The Malaysian preserved fish fillet market dropped to $X in 2021, which is down by -10.4% against the previous year. Over the period under review, consumption recorded a noticeable contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Preserved Fish Fillet Production in Malaysia

In value terms, preserved fish fillet production reached $X in 2021 estimated in export price. In general, production continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 31%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Preserved Fish Fillet Exports

Exports from Malaysia

For the fourth consecutive year, Malaysia recorded growth in shipments abroad of fish fillets (dried, salted or in brine, but not smoked), which increased by 169% to X tons in 2021. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 331% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, preserved fish fillet exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tons) was the main destination for preserved fish fillet exports from Malaysia, with a 79% share of total exports. Moreover, preserved fish fillet exports to Singapore exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold. Indonesia (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore stood at +341.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+96.1% per year) and Indonesia (+96.7% per year).

In value terms, Singapore ($X) remains the key foreign market for fish fillets (dried, salted or in brine, but not smoked) exports from Malaysia, comprising 77% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 3.8% share of total exports. It was followed by Indonesia, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore amounted to +307.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+108.6% per year) and Indonesia (+35.8% per year).

Export Prices by Country

The average preserved fish fillet export price stood at $X per ton in 2021, waning by -27% against the previous year. Overall, the export price saw a sharp reduction. The most prominent rate of growth was recorded in 2017 an increase of 81% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Thailand ($X per ton), while the average price for exports to Vietnam ($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 Singapore (-8.1%), while the prices for the other major destinations experienced a decline.

Preserved Fish Fillet Imports

Imports into Malaysia

Preserved fish fillet imports into Malaysia dropped to X tons in 2021, with a decrease of -11.6% on the year before. In general, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 577% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, preserved fish fillet imports reduced notably to $X in 2021. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 635%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Myanmar (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of preserved fish fillet imports to Malaysia, together comprising 80% of total imports. Indonesia and Japan lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +63.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Myanmar ($X) and Japan ($X) constituted the largest preserved fish fillet suppliers to Malaysia, together accounting for 80% of total imports. These countries were followed by Indonesia and Vietnam, which together accounted for a further 19%.

Among the main suppliers, Indonesia, with a CAGR of +52.1%, saw the highest growth rate of 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 preserved fish fillet import price stood at $X per ton in 2021, falling by -30.4% against the previous year. Over the period under review, the import price saw a abrupt downturn. The pace of growth was the most pronounced in 2019 when the average import price increased by 92% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :