Price for Butter and Other Fats and Oils Derived from Milk in Malaysia - 2024
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in Malaysia (CIF) - 2022
- Price for Butter and Other Fats and Oils Derived from Milk in Malaysia (FOB) - 2022
- Imports of Butter and Other Fats and Oils Derived from Milk in Malaysia
- Exports of Butter and Other Fats and Oils Derived from Milk in Malaysia
Price for Butter and Other Fats and Oils Derived from Milk in Malaysia (CIF) - 2022
In 2022, the average import price for butter and other fats and oils derived from milk amounted to $6,610 per ton, with an increase of 19% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for butter and other fats and oils derived from milk increased by +30.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 50% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($8,663 per ton) and France ($7,861 per ton), while the price for Australia ($6,467 per ton) and New Zealand ($6,530 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in Malaysia (FOB) - 2022
In 2022, the average export price for butter and other fats and oils derived from milk amounted to $3,959 per ton, declining by -33.1% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 19% against the previous year. The export price peaked at $5,921 per ton in 2021, and then declined remarkably in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brunei Darussalam ($8,871 per ton), while the average price for exports to Papua New Guinea ($1,370 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 Qatar (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Butter and Other Fats and Oils Derived from Milk in Malaysia
For the fourth consecutive year, Malaysia recorded growth in purchases abroad of butter and other fats and oils derived from milk, which increased by 5% to 22K tons in 2022. The total import volume increased at an average annual rate of +4.7% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of butter and other fats and oils derived from milk soared to $144M in 2022. The total import value increased at an average annual rate of +10.8% over the period from 2019 to 2022; the trend pattern indicated some 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.
| Import of Butter and Other Fats and Oils Derived from Milk in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 81.6 | 69.8 | 82.9 | 109 | 10.1% |
| Denmark | 4.8 | 9.7 | 11.9 | 12.1 | 36.1% |
| Australia | 9.7 | 7.9 | 10.7 | 9.9 | 0.7% |
| France | 3.7 | 2.9 | 3.0 | 5.8 | 16.2% |
| Netherlands | 3.9 | 5.7 | 2.4 | 2.4 | -14.9% |
| Others | 2.6 | 5.0 | 4.5 | 4.9 | 23.5% |
| Total | 106 | 101 | 115 | 144 | 10.8% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to Malaysia in 2022:
- New Zealand (16.7K tons)
- Denmark (1.8K tons)
- Australia (1.5K tons)
- France (0.7K tons)
- Netherlands (0.3K tons)
Exports of Butter and Other Fats and Oils Derived from Milk in Malaysia
After two years of decline, shipments abroad of butter and other fats and oils derived from milk increased by 109% to 7K tons in 2022. Over the period under review, exports enjoyed a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of butter and other fats and oils derived from milk surged to $28M in 2022. The total export value increased at an average annual rate of +3.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Butter and Other Fats and Oils Derived from Milk in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 4.3 | 4.6 | 5.6 | 5.6 | 9.2% |
| United Arab Emirates | 3.7 | 3.9 | 2.5 | 3.9 | 1.8% |
| Brunei Darussalam | 3.3 | 4.1 | 5.0 | 3.6 | 2.9% |
| Vietnam | 0.9 | 0.5 | N/A | 2.4 | 38.7% |
| China | 0.1 | 0.1 | N/A | 2.2 | 180.2% |
| Taiwan (Chinese) | 2.6 | 1.2 | 0.3 | 1.1 | -24.9% |
| Qatar | 1.3 | 1.5 | 0.9 | 1.0 | -8.4% |
| Oman | 0.9 | 0.6 | 0.5 | 0.9 | 0.0% |
| Trinidad and Tobago | 1.1 | 1.1 | 0.8 | 0.9 | -6.5% |
| Indonesia | 0.7 | 0.2 | 0.4 | 0.7 | 0.0% |
| Papua New Guinea | N/A | N/A | N/A | 0.5 | 0% |
| Philippines | 0.3 | 0.1 | N/A | 0.4 | 10.1% |
| Saudi Arabia | 1.3 | 0.6 | 0.7 | 0.2 | -46.4% |
| Others | 4.3 | 3.5 | 2.9 | 4.2 | -0.8% |
| Total | 24.9 | 22.0 | 19.7 | 27.6 | 3.5% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from Malaysia in 2022:
- China (1513.7 tons)
- Vietnam (1318.7 tons)
- Singapore (1044.2 tons)
- United Arab Emirates (542.9 tons)
- Brunei Darussalam (406.9 tons)
- Papua New Guinea (396.2 tons)
- Indonesia (202.4 tons)
- Taiwan (Chinese) (171.7 tons)
- Philippines (144.7 tons)
- Qatar (141.1 tons)
- Oman (138.7 tons)
- Trinidad and Tobago (111.5 tons)
- Saudi Arabia (44.8 tons)
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