July 26, 2023

 

USDA leads agribusiness trade mission to Malaysia and Singapore

 

Alexis Taylor, the US Department of Agriculture's (USDA) Under Secretary for Trade and Foreign Agricultural Affairs, is set to spearhead an agribusiness trade mission to Malaysia and Singapore from October 30 to November 3, USDA Foreign Agricultural Service reported.

 

US exporters keen on participating in the trade mission can now apply through USDA's Foreign Agricultural Service.

 

Alexis Taylor said that Malaysia and Singapore offer stability and tremendous opportunities to further expand US trade in the region. She noted the growing consumer demand for American products in both countries, making the timing of this agribusiness trade mission especially opportune.

 

The mission will provide US exporters a valuable opening to strengthen relationships with local importers.

 

During the trade mission, participants will visit Kuala Lumpur and Singapore, where they will engage with key importers and gain insights from government and industry leaders about local market conditions.

 

They will also have one-on-one meetings with potential customers and the chance to visit local retail stores and food manufacturers to gain a comprehensive understanding of the markets.

 

Malaysia heavily relies on imports of essential agricultural products, including wheat, rice, protein meal, dairy products, beef, and various deciduous and citrus fruits. In 2022, US agricultural and related products exports to Malaysia reached US$1.13 billion. Consumer-oriented products accounted for nearly half of the total US food and agriculture exports to Malaysia, reflecting the surging consumer demand and thriving food service sector. Soybeans, processed fruits and vegetables, tree nuts, and prepared foods also remain popular in the country.

 

Malaysia's status as a major food processing hub enables re-exporting throughout Southeast Asia and beyond.

 

Singapore, being a vital logistical hub, serves as the headquarters for numerous key buyers of agricultural and food products in the Asia-Pacific region. US agricultural exports to Singapore recorded remarkable growth, surging by 190% from 2012 to 2022, reaching a record US$1.4 billion in 2022.

 

Despite its small size and urbanisation, Singapore relies on food imports from various suppliers. As a high-income country, it offers a sophisticated market for numerous US consumer-oriented products.

 

-      USDA Foreign Agricultural Service