Malaysia: Preserved Cows Meat Market 2024

Preserved Cows Meat Market Size in Malaysia

The Malaysian preserved cows meat market stood at $X in 2021, rising by 6.7% against the previous year. In general, consumption showed a strong expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Preserved Cows Meat Production in Malaysia

In value terms, preserved cows meat production reached $X in 2021 estimated in export price. Overall, production continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 39%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Cows Meat Exports

Exports from Malaysia

In 2021, after two years of decline, there was significant growth in shipments abroad of prepared or preserved meat or offal of bovine animals, when their volume increased by 13% to X tons. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 737% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, preserved cows meat exports rose significantly to $X in 2021. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 828%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for preserved cows meat exports from Malaysia, with a 81% share of total exports. Moreover, preserved cows meat exports to Singapore exceeded the volume sent to the second major destination, Turkey (X tons), more than tenfold. The third position in this ranking was taken by Pakistan (X tons), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore stood at +32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+22.3% per year) and Pakistan (+6.6% per year).

In value terms, Singapore ($X) remains the key foreign market for prepared or preserved meat or offal of bovine animals exports from Malaysia, comprising 84% of total exports. The second position in the ranking was held by Pakistan ($X), with a 3.1% share of total exports. It was followed by Hong Kong SAR, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value to Singapore totaled +39.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+7.6% per year) and Hong Kong SAR (-6.2% per year).

Export Prices by Country

In 2021, the average preserved cows meat export price amounted to $X per ton, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2018 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Turkey ($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 the United Arab Emirates (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Cows Meat Imports

Imports into Malaysia

Preserved cows meat imports into Malaysia soared to X tons in 2021, increasing by 27% against 2020 figures. In general, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 33%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved cows meat imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a deep slump. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Brazil (X tons), Singapore (X tons) and Argentina (X tons) were the main suppliers of preserved cows meat imports to Malaysia, with a combined 74% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Argentina (with a CAGR of +69.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Singapore ($X) and Argentina ($X) appeared to be the largest preserved cows meat suppliers to Malaysia, together comprising 81% of total imports.

Argentina, with a CAGR of +69.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average preserved cows meat import price stood at $X per ton in 2021, rising by 23% against the previous year. Over the period under review, the import price posted buoyant growth. The growth pace was the most rapid in 2020 an increase of 73% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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