Malaysia: Preserved Herring Market 2024

Preserved Herring Market Size in Malaysia

In 2021, after five years of growth, there was decline in the Malaysian preserved herring market, when its value decreased by -1.4% to $X. The market value increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved herring consumption peaked at $X in 2020, and then reduced in the following year.

Preserved Herring Production in Malaysia

In value terms, preserved herring production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 28% against the previous year. Preserved herring production peaked at $X in 2020, and then contracted in the following year.

Preserved Herring Exports

Exports from Malaysia

In 2021, shipments abroad of herrings (prepared or preserved) increased by 76% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports, however, continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2015 with an increase of 673% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved herring exports surged to $X in 2021. Over the period under review, exports, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2019 with an increase of 307% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for preserved herring exports from Malaysia, with a 93% share of total exports. Moreover, preserved herring exports to the UK exceeded the volume sent to the second major destination, Brunei Darussalam (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +91.0%.

In value terms, the UK ($X) remains the key foreign market for herrings (prepared or preserved) exports from Malaysia, comprising 96% of total exports. The second position in the ranking was held by Brunei Darussalam ($X), with a 3.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK amounted to +109.8%.

Export Prices by Country

In 2021, the average preserved herring export price amounted to $X per ton, surging by 12% against the previous year. Over the period under review, the export price recorded significant growth. The pace of growth appeared the most rapid in 2013 an increase of 460% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

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 the UK ($X per ton), while the average price for exports to Brunei Darussalam totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Solomon Islands (+136.8%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Herring Imports

Imports into Malaysia

In 2021, the amount of herrings (prepared or preserved) imported into Malaysia declined markedly to X kg, waning by -40.6% against 2020. Overall, imports continue to indicate a dramatic contraction. The pace of growth was the most pronounced in 2020 with an increase of 90%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, preserved herring imports declined significantly to $X in 2021. Over the period under review, imports showed a dramatic downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 136% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Poland (X kg) constituted the largest preserved herring supplier to Malaysia, with a 34% share of total imports. Moreover, preserved herring imports from Poland exceeded the figures recorded by the second-largest supplier, Vietnam (X kg), threefold. The third position in this ranking was held by Italy (X kg), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Poland amounted to -13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-37.4% per year) and Italy (-1.3% per year).

In value terms, the largest preserved herring suppliers to Malaysia were Poland ($X), Italy ($X) and Vietnam ($X), together accounting for 76% of total imports. France, Sweden, the UK, Japan, India, Taiwan (Chinese) and Germany lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, France, with a CAGR of -6.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average preserved herring import price amounted to $X per ton, with an increase of 9% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved herring import price decreased by -29.8% against 2018 indices. The pace of growth appeared the most rapid in 2015 an increase of 28%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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