80 Malaysian companies record sales of RM1.48bil at Gulfood 2024

KUALA LUMPUR; A total of 80 Malaysian companies have recorded sales worth RM1.49 billion through the world's largest food exhibition, Gulfood 2024, which was held in Dubai, United Arab Emirates from Feb 19-23, 2024.

According to the Malaysia External Trade Development Corporation (MATRADE) chairman, Datuk Seri Reezal Merican Naina Merican, said the amount marked a significant increase of 57.9 per cent from RM943.46 million recorded in 2023.

"The performance was driven by the increased participation by Malaysian companies, which rose from 71 companies to 80 companies, as well as the extension of the exhibition period from four days to five days.

"Of the total sales, RM579.1 million were actual sales, while RM916.75 million were potential sales," he told Bernama.

Reezal Merican said the success reflected Malaysian companies' ability to expand their exports and enter global markets through platforms such as Gulfood, and was proud to note that most of the involved companies were micro, small, and medium enterprises, with the majority being Bumiputera companies.

He said MATRADE would continue to monitor the progress of the sales every month to ensure the potential sales of RM916.75 million could be realised.

Aside from the participation of private companies, five government agencies were also part of the delegation to Dubai, namely the Federal Agricultural Marketing Authority, Majlis Amanah Rakyat, Malaysian Palm Oil Council, SME Bank, and Selangor State Development Corporation.

According to Reezal Merican, palm oil products recorded the highest sales with a value of RM877.50 million, followed by beverages (RM289.9 million), condensed milk (RM106.15 million), frozen food (RM85.66 million), agricultural products (RM55.96 million), snacks (RM40.71 million), ready-to-eat products (RM20.62 million), biscuits (RM12.6 million), and spices (RM0.46 million).

Furthermore, a total of 10,622 business matching sessions were conducted by Malaysian exhibition participants throughout the event with importers and distributors from the Middle East and North Africa (MENA) region and beyond.

Gulfood 2024 is seen as an effective platform for Malaysian companies to explore export opportunities and collaborations in the global market and showcase their products and services.

During the official visit to Dubai, Reezal Merican also witnessed the exchange of Memorandums of Understanding (MoUs) between Malaysian and international companies at the Malaysia Pavilion, further demonstrating the export potential and efforts towards the Middle Eastern market.

He said one of the MoUs was an agreement between Agym Nutrition Sdn Bhd and Eureka Drinks Sdn Bhd with an international company, opening up new opportunities for the export of Malaysian health products and energy drinks to the Middle Eastern market. - Bernama

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