With biryani and rice balls, Malaysia aims for halal Olympic gold

With biryani and rice balls, Malaysia aims for halal Olympic gold

With biryani and rice balls, Malaysia aims for halal Olympic gold

By Rozanna Latiff

KUALA LUMPUR (Reuters) – A small factory in Malaysia’s capital is preparing thousands of ready-to-eat halal meals, from fried rice to chicken biryani, to be shipped off to Japan for 2020’s biggest sporting event.

Food firms from Muslim-majority Malaysia, are expected to be big winners from a rush of Muslim travelers to Japan for the Olympics and Paralympic Games, from late July to September.

“It’s a huge platform and opportunity for us,” said Ahmad Husaini Hassan, boss of the MyChef company making the meals in Kuala Lumpur.

“Our intention is not to go in and out. We’ve to go in and stay for the long term.”

Malaysia wants to use the Games as a springboard to boost halal exports, which include food and cosmetics, by about a fifth to $12 billion this year. It exported halal goods worth $604 million to Japan in 2018, 90% of it food and food ingredients.

Malaysia is the only country to have reached a halal cooperation deal with Tokyo for the Games.

MyChef aims to triple its revenue to 4.5 million ringgit ($1 million) this year. It is in talks with Japanese retailer Aeon to jointly develop a line of ready-to-eat halal meals and snacks, Ahmad Husaini said.

Malaysia’s halal trade has lagged behind non-Muslim nations such as the United States, China and Brazil. The value of the global halal market is projected to reach $2.6 trillion by 2023, nearly double 2017 levels, according to Dublin-based data firm Research and Markets.

MALAYSIA STREET

Malaysia’s government has set an ambitious target of selling as much as $300 million worth of halal food and products to Muslims and non-Muslims around the Games.

It has secured space on the sidelines to host a “Malaysia Street 2020” promotion, which will offer opportunities to sell food and for firms to meet Japanese buyers and distributors.

“We have a lot to learn from Malaysian authorities and in return, Malaysian companies have more chances to expand their business,” said Hideto Nakajima, economic counselor at the Japanese embassy in Malaysia.

The number of tourists to Japan from Southeast Asia, the region with the world’s biggest Muslim population, has jumped in recent years thanks to relaxed visa rules.

As Japan looks to draw a record 40 million tourists this year, Malaysia estimates 8 million of them will be Muslim.

For HQC Commerce, among four firms chosen to lead Malaysia’s halal push in Japan, the Olympics is a “stepping stone” for bigger things.

“We know that during the Olympics the demand will be highest, so this is the time for us to promote Malaysian products,” said CEO Khairul Shahril Hamzah.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source : Reuters Link

Follow 3-www.NET
Follow
e-News.US
  
Share
e-News.Us

Category Latest Posts