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Post forecasts consumption of cotton in the Malaysian textile industry at 290,000 bales in marketing year (MY) 2022/23, a 3.3 percent drop from the previous year post’s estimate. The expected reduction is based on textile companies shifting their operation to other South-East Asian countries as the cost of labor increased in Malaysia with the revision of new minimum wages on April 1, 2022.
Post forecasts consumption of cotton in the Malaysian textile industry at 290,000 bales in marketing year (MY) 2022/23, a 3.3 percent drop from the previous year post’s estimate.
Post forecasts domestic consumption of cotton by the Malaysian textile industry at 350,000 bales in marketing year (MY) 2021/22 on presumed economic growth in Malaysia and strong consumer demand for textiles in the United States and the European Union.
South Asia, which includes Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka, accounts for 24 percent of the world’s population, with 1.84 billion people in 2019.
Post forecasts consumption of cotton in the Malaysian textile industry at just over 66,000 metric tons (MT) in marketing year (MY) 2019/20, a 5 percent increase from the previous year.
This report provides information on the export certification requirements of the Government of Malaysia.
There have not been any significant developments since last year’s 2016 report....
For 2017/18, domestic consumption for the domestic spinning industry is forecast at 55,000 tons slightly higher than 2016/17 forecast at 54,430 tons....
There are no significant changes to report from the previous submission.
Introduction of a 6 percent Goods and Services Tax (GST) on April 1, 2015 increased costs and discouraged transshipment of cotton from Malaysia to nearby regional markets.
After declining consistently in recently years, cotton use and imports for the domestic spinning industry are hovering around 40,000 to 45,000 tons, annually.
U.S. agricultural exports to Southeast Asia have experienced extremely rapid growth in recent years and, in FY 2014, they climbed to a record $11.5 billion – up 11 percent from FY 2013.