Analysts report that demand in the main export markets remains weak but that there are signs of increased buyer interest in Europe and that, after a quiet spell, Indian buyers have become more active.
Tan Chin Huat, chairman of the Malaysian International Furniture Fair (MIFF) said that exhibitors at last months’ fair reported record orders of RM2.63 billion (approximately US$854 million)...
As the Chinese New Year holidays approach the timber industries in Malaysia are beginning to wind down production and prepare for a shut down from the first week in February. Sawmills, especially in Peninsular Malaysia, will shut for an extended break in early February...
The most recent export data shows that Malaysian exports totalled RM 390.3 billion for the period January to September 2012; this generated an average monthly positive trade balance of around RM 10 billion...
The Malaysian Ministry of Plantation Industries and
Commodities has indicated that some progress has been
made in talks with the European Union (EU) concerning
the Voluntary Partnership Agreement (VPA)...
The Ministry of International Trade and Industry is urging
the timber sector in Sarawak, as the state with the largest
timber resource, to consider expanding investment in the
The Malaysian Plantation and Commodities Ministry said
that the Malaysian timber industry is projected to meet its
export target of RM20 billion to RM21 billion, which is
close to the RM20.5 billion exports in 2010...
Malaysia’s exports of wooden furniture in 2011 are
expected be no higher than the RM6.5 billion achieved in
2010 as continued uncertainty in the global economy
weighs on the timber manufacturing and export sectors...
Malaysian timber exports slowed in the first four months
of this year and timber exporters in the country are wary of
a yet another economic downturn in the US that could
impact timber markets around the world as in 2009...
With 85 per cent of Malaysia’s furniture being exported
manufacturers are constantly looking for new market
opportunities, especially in the non-traditional Asian
markets such as China and India...
Industry urged to develop code of conduct
The Ministry of Plantation Industries and Commodities
said that Malaysian timber businesses should lend their
support to the introduction of a code of conduct for the
industry as global consumers are becoming more aware of
issues related to sustainability and the environment...
With the Malaysian ringgit strengthening against most
major currencies, including the US dollar, the Euro and
Sterling, a decline in furniture exports in the current year
is being forecast...