BIMB Securities Research says the nation remains dependent on imports of staple foods such as rice and vegetables.
BIMB Securities Research noted that Malaysia has a 104.1% self-sufficiency rate for chicken, and 119.1% for eggs. PETALING JAYA: Malaysia still has a comfortable supply of its main protein sources – chicken and eggs – but faces challenges in local production of staple foods such as rice, which analysts say meets only 63% of national demand.
In a research note, BIMB Securities Research said the country is even more dependent on vegetable imports, with a self-sufficiency level of only 45%.
“This makes vegetable prices more vulnerable to supply chain disruptions and rising import costs,” Berita Harian reported the research house as saying today. BIMB Securities Research noted that Malaysia has a 104.1% self-sufficiency rate for chicken, and 119.1% for eggs. It said that while the nation’s overall food production has increased in recent years, it remains short of true self-sufficiency.
“There is a continued reliance on imports of vegetables, fruits, meat, dairy and grains, without a significant increase in local production. “As such, national food inflation remains susceptible to external factors such as global commodity prices and currency exchange rates, despite temporary government measures to stabilise costs,” it said.
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