Price for Vegetable Saps and Extracts; of Liquorice in Malaysia - 2023

Contents:

1. Price for Vegetable Saps and Extracts; of Liquorice in Malaysia (FOB) - 2023
2. Price for Vegetable Saps and Extracts; of Liquorice in Malaysia (CIF) - 2022
3. Exports of Vegetable Saps and Extracts; of Liquorice in Malaysia
4. Imports of Vegetable Saps and Extracts; of Liquorice in Malaysia

Price for Vegetable Saps and Extracts; of Liquorice in Malaysia (FOB) - 2023

The average export price for vegetable saps and extracts; of liquorice stood at $42,135 per ton in December 2023, rising by 133% against the previous month. Overall, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $43,083 per ton in July 2023; however, from August 2023 to December 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From February 2023 to December 2023, the rate of growth in terms of prices for Singapore amounted to +0.5% per month.

Price for Vegetable Saps and Extracts; of Liquorice in Malaysia (CIF) - 2022

In 2022, the average import price for vegetable saps and extracts; of liquorice amounted to $14,989 per ton, dropping by -3.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 16% against the previous year. As a result, import price reached the peak level of $16,185 per ton. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($20,236 per ton), while the price for China ($8,810 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Vegetable Saps and Extracts; of Liquorice in Malaysia

For the fourth year in a row, Malaysia recorded growth in overseas shipments of vegetable saps and extracts; of liquorice, which increased by 103% to 123 tons in 2022. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 2,948% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of vegetable saps and extracts; of liquorice soared to $681K in 2022. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2020 with an increase of 1,786% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see gradual growth in the near future.

Top Export Markets for Vegetable Saps and Extracts; of Liquorice from Malaysia in 2022:

1. Singapore (123.1 tons)

Imports of Vegetable Saps and Extracts; of Liquorice in Malaysia

In 2022, the amount of vegetable saps and extracts; of liquorice imported into Malaysia skyrocketed to 35 tons, surging by 22% against the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 43% against the previous year. As a result, imports reached the peak of 51 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of vegetable saps and extracts; of liquorice surged to $530K in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 51% against the previous year. As a result, imports reached the peak of $792K. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Top Suppliers of Vegetable Saps and Extracts; of Liquorice to Malaysia in 2022:

1. France (14.2 tons)
2. United Kingdom (9.4 tons)
3. China (5.9 tons)
4. Indonesia (3.0 tons)
5. Singapore (2.5 tons)

Source: IndexBox Market Intelligence Platform