KUALA LUMPUR: Over the next 10 years, global food consumption is expected to increase by 1.4 per cent annually, mainly driven by the rising population.
Low- and middle-income countries are projected to strongly contribute to the demand growth, given the rapid expansion and intensification of their production capabilities.
These are among the key predictions of the latest collaborative report between the Organisation for Economic Co-operation and Development and the United Nations' Food and Agriculture Organisation (FAO).
Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said: "The future is here, whereby the role of emerging markets — like Malaysia — proves indispensable and crucial to the global supply chain. With accelerated innovation in growing and harvesting technology, it's an exciting time to harness Malaysia's potential to transform into the hub of agricommodity, regionally and globally."
The Malaysia International Agricommodity Expo and Summit 2022 (MIACES), which starts tomorrow, is spearheading the momentum towards this vision.
A total of 39 countries are participating in the event, which is expected to generate more than RM300 billion in exports for agricommodity players.
MIACES will be held from July 26 to 28 at the Malaysia International Trade and Exhibition Centre, showcasing an exhibition of in-demand commodity products, services, and up-and-coming agri-technology under one roof.
The event features conferences, roundtable discussions, business-to-business meetings and an evening of prestigious awards to recognise movers and shakers in the sector.
MIACES is organised by the ministry with the support of the councils under its purview.
As Malaysia rebuilds its economy after the Covid-19 crisis, Zuraida said: "We urge industry players to leverage MIACES as a powerful stepping stone to tap an industry valued about US$756 billion globally. This marketplace event offers a business environment that facilitates participants to forge connections, spur greater-level transactions, explore potential investments and strategise new market opportunities in these few productive months before we enter the new year of 2023.
"MIACES is a step forward to connect industry players with innovative solutions; contributing towards achieving the Sustainable Development Goals (SDGs) especially as the world faces a changing climate. Through the MIACES roundtable discussions, we hope to inspire dialogues on forward-looking policies, while ensuring sustainable development in Malaysia as the producing country and exporter," said Zuraida.
The theme of this year's MIACES is "Advancing Agricommodity in Sustainable Ecosystem". It will focus on the palm oil, rubber, timber, cocoa, pepper and kenaf sectors, which are among the main drivers of the economy.
Visit MIACES 2022 to explore, trade and foster connections that matter. MIACES will open its doors to investors, importers, manufacturers, farmers and growers, suppliers, distributors, academicians and researchers, and other key stakeholders from around the world.
No matter the scale or nature — from start-ups, small- or medium-sized enterprises, and international companies, to research institutes and government bodies — all are welcome to explore Malaysia's largest event for the agricommodity sector.
The show is also open to public visitors to learn more about the opportunities in the agricommodity industry locally. They can also directly interact with industry players from all over the world.
To register for selected sessions or to learn more, visit https://myagricommodity.com/