MATRADE: Malaysia's F&B Industry Maintains Global Competitiveness By Innovating

KUALA LUMPUR, Aug 11 (Bernama) -- Malaysia’s food and beverages (F&B) industry has been innovating in order to maintain its global competitiveness and growth momentum, said the Malaysia External Trade Development Corporation (MATRADE). In a statement Wednesday, the national trade promotionagency said the F&B Industry has been able to take advantage of the country’s tropical climate that allows for year-round commercial-scale crop cultivation, complemented by its multi-cultural population and plethora of culinary offerings. “While satisfying broader global consumer expectations, Malaysia has also been able to cater to those seeking organic and healthier food alternatives including functional foods containing bioactive components beneficial for health and with the potential to reduce the risk of chronic diseases. “Malaysia is also acknowledged as a world leader in the area of halal food production and processing with a globally recognised certification system providing assurance of product safety and quality,” said MATRADE. Malaysia’s exports of processed food in 2020 were valued at RM21.24 billion (US$5.06 billion) with major export destinations being Singapore, China, the United States, Indonesia, and Thailand. “Processed food was among the main products sourced from Malaysia by some countries in ASEAN, West Asia and Africa. “The expansion and transformation of food production together with the growth in halal food and the overall food processing industry show the breadth of opportunities available in sourcing from Malaysian manufacturers,” it said. Meanwhile, MATRADE has been providing assistance by ensuring Malaysian companies continue to participate in global trade exhibitions such as Gulfood Dubai, Foodex Tokyo, SIAL Paris and ANUGA Cologne. The agency is also conducting extensive virtual meetings during this period of restricted movement via its eBizMatch programme between Malaysian suppliers and potential buyers. -- BERNAMA