Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia - 2023
Contents:
- Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia (CIF) - 2023
- Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia (FOB) - 2022
- Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia
- Exports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia
Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia (CIF) - 2023
In December 2023, the average import price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) amounted to $3,488 per ton, therefore, remained relatively stable against the previous month. Overall, the import price showed a noticeable setback. The growth pace was the most rapid in March 2023 an increase of 15% m-o-m. Over the period under review, average import prices attained the peak figure at $5,283 per ton in December 2022; however, from January 2023 to December 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was New Zealand ($5,616 per ton), while the price for Hong Kong SAR ($1,346 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by New Zealand (-1.0%), while the prices for the other major suppliers experienced a decline.
Price for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia (FOB) - 2022
The average export price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) stood at $10,458 per ton in 2022, with an increase of 2.4% against the previous year. In general, export price indicated a strong expansion from 2013 to 2022: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) increased by +83.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 79% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.
As there is only one major export destination, the average price level is determined by prices for Cambodia.
From 2013 to 2022, the rate of growth in terms of prices for Cambodia amounted to +9.4% per year.
Imports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia
Imports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) into Malaysia skyrocketed to 34K tons in 2022, jumping by 36% on the previous year. In general, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +17.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.8% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) skyrocketed to $222M in 2022. Overall, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 76.8 | 104 | 132 | 170 | 30.3% |
| New Zealand | 26.4 | 43.8 | 19.2 | 49.0 | 22.9% |
| Others | 4.4 | 0.9 | 1.1 | 2.5 | -17.2% |
| Total | 108 | 149 | 152 | 222 | 27.1% |
Top Suppliers of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) to Malaysia in 2022:
- Australia (26.5K tons)
- New Zealand (6.6K tons)
Exports of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia
In 2022, overseas shipments of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) decreased by -92% to 489 kg for the first time since 2018, thus ending a three-year rising trend. Overall, exports saw a precipitous decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 48%.
In value terms, exports of frozen sheep (including lamb) cuts with bone in (excluding carcasses and half-carcasses) declined remarkably to $5.1K in 2022. Over the period under review, exports showed a sharp decline. The pace of growth appeared the most rapid in 2021 when exports increased by 139%. As a result, the exports attained the peak of $62K, and then contracted rapidly in the following year.
| Export of Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | 1.5 | 3.0 | 36.6 | 5.1 | 50.4% |
| Hong Kong SAR | N/A | 0.8 | N/A | N/A | 0% |
| Oman | 22.3 | 19.4 | N/A | N/A | -13.0% |
| Bangladesh | 1.2 | 3.0 | 25.9 | N/A | 364.6% |
| Others | N/A | N/A | N/A | N/A | 0% |
| Total | 25.0 | 26.2 | 62.5 | 5.1 | -41.1% |
Top Export Markets for Frozen Sheep (Including Lamb) Cuts with Bone in (Excluding Carcasses and Half-Carcasses) from Malaysia in 2022:
- Cambodia (489.0 kg)
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