Malaysia: Mushroom And Truffle Market 2024

Mushroom And Truffle Market Size in Malaysia

In 2022, the Malaysian mushroom and truffle market decreased by -35% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption, however, continues to indicate a tangible increase. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Mushroom And Truffle Exports

Exports from Malaysia

In 2022, after three years of growth, there was significant decline in overseas shipments of mushrooms and truffles, when their volume decreased by -17% to X tons. Overall, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 39%. The exports peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, mushroom and truffle exports contracted rapidly to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 29%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for mushroom and truffle exports from Malaysia, accounting for a 85% share of total exports. Moreover, mushroom and truffle exports to Singapore exceeded the volume sent to the second major destination, Thailand (X tons), ninefold. Vietnam (X tons) ranked third in terms of total exports with a 1.5% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore totaled +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+18.3% per year) and Vietnam (+43.8% per year).

In value terms, Singapore ($X) remains the key foreign market for mushrooms and truffles exports from Malaysia, comprising 82% of total exports. The second position in the ranking was held by Thailand ($X), with an 8.6% share of total exports. It was followed by Vietnam, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+11.4% per year) and Vietnam (+41.6% per year).

Export Prices by Country

In 2022, the average mushroom and truffle export price amounted to $X per ton, waning by -7% against the previous year. Overall, the export price recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 15% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the Philippines ($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 (+0.3%), while the prices for the other major destinations experienced a decline.

Mushroom And Truffle Imports

Imports into Malaysia

In 2022, after six years of growth, there was significant decline in purchases abroad of mushrooms and truffles, when their volume decreased by -25% to X tons. In general, imports, however, posted a prominent increase. The pace of growth was the most pronounced in 2019 when imports increased by 36% against the previous year. Imports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, mushroom and truffle imports dropped to $X in 2022. Overall, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2014 with an increase of 32%. Over the period under review, imports reached the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest mushroom and truffle supplier to Malaysia, accounting for a 69% share of total imports. Moreover, mushroom and truffle imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. Thailand (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+42.3% per year) and Thailand (+3.8% per year).

In value terms, China ($X) constituted the largest supplier of mushrooms and truffles to Malaysia, comprising 86% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 4.6% share of total imports. It was followed by South Korea, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+23.1% per year) and South Korea (-3.3% per year).

Import Prices by Country

The average mushroom and truffle import price stood at $X per ton in 2022, picking up by 15% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 22% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

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 South Korea ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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