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Post forecasts consumption of cotton in the Malaysian textile industry at 290,000 bales in marketing year (MY) 2022/23, a 3.3 percent drop from the previous year post’s estimate. The expected reduction is based on textile companies shifting their operation to other South-East Asian countries as the cost of labor increased in Malaysia with the revision of new minimum wages on April 1, 2022.
Effective June 1, 2022, Malaysia intends to ban export of poultry products to ensure sufficient domestic supply. This is the latest in a series of measures taken to try to combat rising food prices in the country.
Post forecasts that consumption of corn and wheat in Malaysia will marginally increase in Marketing Year (MY) 2022/23, assuming an eventual stabilization of commodity prices following the disruption caused by the crisis in Ukraine.
The Malaysian food manufacturing and processing industry is an important component of the country’s economic recovery and growth.