Malaysia: Preserved Tuna Market 2024

Preserved Tuna Market Size in Malaysia

In 2021, the Malaysian preserved tuna market increased by 1.8% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +44.8% against 2016 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Preserved Tuna Production in Malaysia

In value terms, preserved tuna production amounted to $X in 2021 estimated in export price. In general, the total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.2% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 43%. Preserved tuna production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Preserved Tuna Exports

Exports from Malaysia

In 2021, the amount of tuna (prepared or preserved) exported from Malaysia fell dramatically to X tons, dropping by -26.5% against the year before. Overall, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2019 with an increase of 32% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved tuna exports shrank rapidly to $X in 2021. In general, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 29%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons) was the main destination for preserved tuna exports from Malaysia, with a 66% share of total exports. Moreover, preserved tuna exports to Oman exceeded the volume sent to the second major destination, Singapore (X tons), threefold. Brunei Darussalam (X tons) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman stood at +34.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-23.2% per year) and Brunei Darussalam (-6.8% per year).

In value terms, the largest markets for preserved tuna exported from Malaysia were Oman ($X), Singapore ($X) and Brunei Darussalam ($X), with a combined 95% share of total exports. These countries were followed by Indonesia and Thailand, which together accounted for a further 4.7%.

In terms of the main countries of destination, Indonesia, with a CAGR of +93.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average preserved tuna export price stood at $X per ton in 2021, surging by 4% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 4.4% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Brunei Darussalam ($X per ton), while the average price for exports to Thailand ($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 Indonesia (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Tuna Imports

Imports into Malaysia

In 2021, approx. X tons of tuna (prepared or preserved) were imported into Malaysia; growing by 30% against the previous year. Over the period under review, total imports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +77.2% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 31%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, preserved tuna imports surged to $X in 2021. In general, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +77.0% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 39% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of preserved tuna to Malaysia, accounting for a 79% share of total imports. Moreover, preserved tuna imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. Indonesia (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.3% per year) and Indonesia (+14.7% per year).

In value terms, Thailand ($X) constituted the largest supplier of tuna (prepared or preserved) to Malaysia, comprising 78% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Indonesia, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value from Thailand stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.6% per year) and Indonesia (+14.2% per year).

Import Prices by Country

The average preserved tuna import price stood at $X per ton in 2021, declining by -6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2013 when the average import price increased by 14% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020, and then shrank in the following year.

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 ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+19.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :