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Post maintains the projections for 2021/22 and updates MY 2022/23 with an optimistic outlook on production resulting from good weather conditions and an improved labor situation.
Malaysia retail food and HRI sector is expected to grow by 7.8 percent in 2023. U.S. exporters will see excellent opportunities in the retail food and food processing sectors as the country’s economy rebounds strongly after the COVID-19 pandemic shutdowns.
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.