Malaysia: Salt Market 2024

Salt Market Size in Malaysia

The Malaysian salt market amounted to $X in 2022, approximately equating the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a notable increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Salt Exports

Exports from Malaysia

In 2022, exports of salt and pure sodium chloride from Malaysia expanded remarkably to X tons, rising by 8.5% compared with 2021. The total export volume increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 25% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, salt exports amounted to $X in 2022. In general, exports enjoyed a pronounced increase. The pace of growth appeared the most rapid in 2020 with an increase of 91%. As a result, the exports reached the peak of $X; afterwards, it flattened through to 2022.

Exports by Country

Singapore (X tons), Hong Kong SAR (X tons) and Thailand (X tons) were the main destinations of salt exports from Malaysia, with a combined 79% share of total exports. Indonesia, Japan, American Samoa and Angola lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +68.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for salt and pure sodium chloride exports from Malaysia, comprising 32% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 13% share of total exports. It was followed by Japan, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+5.3% per year) and Japan (+64.0% per year).

Export Prices by Country

The average salt export price stood at $X per ton in 2022, with a decrease of -7.2% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salt export price increased by +78.2% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 53%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Angola ($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 American Samoa (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Malaysia

In 2022, approx. X tons of salt and pure sodium chloride were imported into Malaysia; surging by 4.4% against the year before. Over the period under review, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by 150%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, salt imports reached $X in 2022. In general, imports showed a tangible increase. The pace of growth appeared the most rapid in 2013 with an increase of 105%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Australia (X tons) constituted the largest salt supplier to Malaysia, with a 57% share of total imports. Moreover, salt imports from Australia exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was taken by China (X tons), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from Australia totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.4% per year) and China (-0.2% per year).

In value terms, Australia ($X) constituted the largest supplier of salt and pure sodium chloride to Malaysia, comprising 42% of total imports. The second position in the ranking was held by India ($X), with a 17% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.1% per year) and China (+1.0% per year).

Import Prices by Country

The average salt import price stood at $X per ton in 2022, falling by -4.1% against the previous year. Overall, the import price continues to indicate a pronounced decline. The growth pace was the most rapid in 2016 when the average import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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