Malaysia: Preserved Salmon Market 2024

Preserved Salmon Market Size in Malaysia

In 2021, the Malaysian preserved salmon market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, saw a noticeable setback. Preserved salmon consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Preserved Salmon Production in Malaysia

In value terms, preserved salmon production expanded modestly to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by 19%. Preserved salmon production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Preserved Salmon Exports

Exports from Malaysia

In 2021, overseas shipments of salmon (prepared or preserved) decreased by -0.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 228% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, preserved salmon exports skyrocketed to $X in 2021. In general, exports, however, recorded a prominent increase. The growth pace was the most rapid in 2013 when exports increased by 464% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons) was the main destination for preserved salmon exports from Malaysia, with a 81% share of total exports. Moreover, preserved salmon exports to Japan exceeded the volume sent to the second major destination, Singapore (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to +146.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-2.5% per year) and Brunei Darussalam (-13.8% per year).

In value terms, Japan ($X) emerged as the key foreign market for salmon (prepared or preserved) exports from Malaysia, comprising 91% of total exports. The second position in the ranking was taken by Singapore ($X), with a 7.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +342.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-2.9% per year) and Brunei Darussalam (-16.8% per year).

Export Prices by Country

In 2021, the average preserved salmon export price amounted to $X per ton, with an increase of 88% against the previous year. Overall, the export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 118%. 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 external markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Brunei Darussalam ($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 Japan (+79.8%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Salmon Imports

Imports into Malaysia

In 2021, imports of salmon (prepared or preserved) into Malaysia declined to X tons, with a decrease of -4.1% against the year before. Over the period under review, imports recorded a abrupt contraction. The growth pace was the most rapid in 2020 when imports increased by 217%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, preserved salmon imports contracted significantly to $X in 2021. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2020 when imports increased by 141% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons) constituted the largest preserved salmon supplier to Malaysia, accounting for a 83% share of total imports. Moreover, preserved salmon imports from Thailand exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), tenfold. Singapore (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand totaled -6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-12.8% per year) and Singapore (+40.6% per year).

In value terms, Thailand ($X) constituted the largest supplier of salmon (prepared or preserved) to Malaysia, comprising 73% of total imports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total imports. It was followed by Taiwan (Chinese), with a 7% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-12.0% per year) and Taiwan (Chinese) (-7.7% per year).

Import Prices by Country

The average preserved salmon import price stood at $X per ton in 2021, which is down by -11.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2019 an increase of 37%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average 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 Taiwan (Chinese) ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :