Onion Price in Malaysia - 2024
Contents:
- Onion Price in Malaysia (CIF) - 2024
- Onion Price in Malaysia (FOB) - 2024
- Onion Imports in Malaysia
- Onion Exports in Malaysia
Onion Price in Malaysia (CIF) - 2024
The average onion import price stood at $656 per ton in April 2024, shrinking by -3.8% against the previous month. Overall, the import price, however, continues to indicate a resilient expansion. The growth pace was the most rapid in October 2023 when the average import price increased by 17% against the previous month. Over the period under review, average import prices attained the peak figure at $682 per ton in March 2024, and then shrank in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Pakistan ($864 per ton), while the price for China ($532 per ton) was amongst the lowest.
From April 2023 to April 2024, the most notable rate of growth in terms of prices was attained by Pakistan (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Onion Price in Malaysia (FOB) - 2024
In April 2024, the average onion export price amounted to $558 per ton, which is down by -9.6% against the previous month. Overall, export price indicated modest growth from April 2023 to April 2024: its price increased at an average monthly rate of +1.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on April 2024 figures, onion export price decreased by -9.6% against March 2024 indices. The growth pace was the most rapid in October 2023 an increase of 40% m-o-m. As a result, the export price attained the peak level of $671 per ton. From November 2023 to April 2024, the the average export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In April 2024, the country with the highest price was Indonesia ($763 per ton), while the average price for exports to Thailand ($265 per ton) was amongst the lowest.
From April 2023 to April 2024, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+0.9%), while the prices for the other major destinations experienced a decline.
Onion Imports in Malaysia
In 2022, after two years of decline, there was significant growth in supplies from abroad of onions (dry), when their volume increased by 8.3% to 525K tons. The total import volume increased at an average annual rate of +1.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, onion imports rose modestly to $215M in 2022. The total import value increased at an average annual rate of +6.1% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 18%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.
| Import of Onion in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 80.3 | 70.8 | 77.1 | 124 | 15.6% |
| Netherlands | 14.2 | 33.6 | 25.0 | 36.1 | 36.5% |
| China | 37.6 | 32.4 | 14.5 | 21.8 | -16.6% |
| Pakistan | 26.9 | 40.4 | 59.2 | 14.6 | -18.4% |
| Thailand | 4.4 | 10.0 | 9.9 | 7.2 | 17.8% |
| New Zealand | 6.9 | 8.5 | 10.7 | 5.6 | -6.7% |
| Egypt | 3.6 | 4.0 | 2.3 | 3.5 | -0.9% |
| Others | 5.7 | 11.4 | 8.2 | 2.4 | -25.0% |
| Total | 180 | 211 | 207 | 215 | 6.1% |
Top Suppliers of Onion to Malaysia in 2022:
- India (321.8K tons)
- Netherlands (77.7K tons)
- China (47.1K tons)
- Pakistan (43.0K tons)
- Thailand (12.2K tons)
- New Zealand (9.8K tons)
- Egypt (8.3K tons)
Onion Exports in Malaysia
In 2022, the amount of onions (dry) exported from Malaysia soared to 20K tons, surging by 22% against the year before. The total export volume increased at an average annual rate of +10.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 41%. As a result, the exports attained the peak of 21K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, onion exports skyrocketed to $10M in 2022. In general, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +18.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.7% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Onion in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 3.0 | 3.3 | 5.2 | 5.4 | 21.6% |
| Thailand | 0.9 | 2.5 | 2.0 | 3.8 | 61.6% |
| Philippines | N/A | N/A | N/A | 0.4 | 0% |
| Indonesia | 2.2 | 2.5 | 0.2 | 0.4 | -43.3% |
| Others | 0.1 | 0.1 | N/A | 0.3 | 44.2% |
| Total | 6.2 | 8.5 | 7.5 | 10.3 | 18.4% |
Top Export Markets for Onion from Malaysia in 2022:
- Thailand (10.8K tons)
- Singapore (7.8K tons)
- Indonesia (0.7K tons)
- Philippines (0.5K tons)
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