ISTANBUL: Malaysia is looking at diversifying its food import source, including the possibility of buying wheat flour from Turkiye.
Prime Minister Ismail Sabri Yaakob, who arrived here today to begin his four-day official visit, said food security would be one of the key issues during his series of meetings with Turkish captains of industries.
He said besides strengthening bilateral relationships with Turkiye, he would take the opportunity to lure more investments from the country, as well as source for food items such as wheat flour.
“One-third of the world’s wheat production is from Ukraine and Russia. But the war between the two countries, as well as India’s decision to reduce the export of wheat, have put tremendous pressure on the supply of wheat… But the Malaysian government continues to give subsidies to reduce the burden of the people,” he said.
Turkiye’s annual wheat production is close to 20 million tonnes and the republic is a net exporter of the commodity.
Ismail was speaking at a luncheon with Malaysians residing or studying in the country. Some students took a 23-hour bus journey from Armenia to meet the prime minister.
After the luncheon attended by about 250 people, Ismail met separately with representatives from nine government-linked companies (GLCs) and private firms from Turkiye.
According to Malaysian officials, one of the main highlights of the meeting was a discussion on food supply involving Boustead Holdings and OYAK, Turkiye’s first and largest occupational pension fund.
OYAK has three main investment areas – financial, equity and real estate. With more than 310 business units and 110 plants operating in six continents, OYAK has a strong presence in key sectors including mining and metallurgy, cement concrete, paper, automotive, logistics, finance, chemicals, food, agriculture, energy, and services.
On March 28, the United Nations World Food Programme warned that the war in Ukraine is creating an agricultural crisis not seen since World War 2.
Both Ukraine and Russia produce 30% of the world’s supply of wheat and 20% of maize.
In 2020, Malaysia imported RM1.46 billion worth of wheat, becoming the 38th largest importer of wheat in the world, and in the same year, wheat was the 109th most imported product in Malaysia.
According to the ministry of domestic trade and consumer affairs, Malaysia imports 80% of wheat from Australia and the rest from the United States, Canada and Ukraine. - FMT
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