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On March 16, FAS Kuala Lumpur paid a visit to Port Klang to witness discharge of U.S. corn from a Panamax cargo of 68,100 tons.
For 2016/17 total overall imports of corn into Malaysia are forecast to drop to 3.8 million tons.Even so, U.S. exports of corn are likely to increase to 150,000 tons....
Malaysia has a dynamic hotel and restaurant industry. Changing lifestyles and growing middle class underpins demand.
With per capita income of over $10,800 and a middle and upper class making up 50 percent of the population, Malaysia shows good potential for growth as a market for high value consumer products.
Introduction of a 6 percent Goods and Services Tax (GST) on April 1, 2015 increased costs and discouraged transshipment of cotton from Malaysia to nearby regional markets.