The import of shelled almonds to Malaysia experienced significant fluctuations from 2013 to 2023. Starting at 3.0971 million kilograms in 2013, the volume varied yearly, reaching 4.5015 million kilograms in 2023. The year-on-year variations ranged from a decrease of 23.34% in 2017 to an increase of 61.15% in 2018. Over the last two years, the volume showed stable growth, increasing by 3.27% in 2022 and 3.1% in 2023. The compound annual growth rate (CAGR) over the past five years leading into 2023 indicates moderate growth at 1.41%.
Looking forward, the volume is forecasted to continue its upward trend, anticipated to reach 5.1389 million kilograms by 2028, with a forecasted 5-year CAGR of 2.09% and a forecasted 5-year growth rate of 10.89%.
Future trends to watch for:
- Possible impact of global almond supply and demand dynamics.
- Changes in trade policies and tariffs affecting imports.
- Shifts in consumer preferences towards healthy and plant-based diets, potentially increasing almond imports.
- Climate change affecting almond production regions and consequently the supply chain.
