Zuraida: Biting into China's bakery fats market will boost palm oil downstream sector

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Malaysia should further expand its market share in China’s bakery fats market, said Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin.

种植园工业和商品部长拿督祖莱达卡马鲁丁表示,马来西亚应进一步扩大其在中国烘焙油脂市场的市场份额。

 

She said China has resorted to importing the main raw material from Indonesia and Malaysia, whose exports of shortening to China stood at 7,655 tonnes in 2021, as the republic's annual production is far from meeting its growing domestic consumption demand.

她说,中国已诉诸从印度尼西亚和马来西亚进口主要原材料,由于该共和国的年产量远不能满足其不断增长的国内消费需求,2021 年它们对中国的起酥油出口量为 7,655 吨。

 

Hence, the minister has urged home-grown shortening and margarine manufacturers to forge tie-ups with reputable bakery enterprises in the world’s second-largest economy.

因此,部长敦促本土起酥油和人造黄油制造商与世界第二大经济体的知名烘焙企业建立合作关系。

 

“Even though Malaysia’s ‘cake’ in China’s bakery industry is small at this moment, the world’s second-largest palm oil producer would be capable of expanding its market share in China’s bakery ingredient market with the right promotion and marketing strategies,” she said in a statement on 21 Sept.

虽然目前大马在中国烘焙业的‘蛋糕’很小,但这个世界第二大棕榈油生产国,只要有正确的推广和营销策略,就能扩大其在中国烘焙原料市场的市场份额,”她在9 月 21 日发表声明。

 

Her ministry said China’s margarine market is also growing rapidly with an annual growth rate of 20%.

她的部表示,中国的人造黄油市场也在以每年20%的速度快速增长。

 

China imports margarine from Indonesia, followed by 650 tonnes coming from Malaysia in 2021, an increase of 10% from 590 tonnes in 2020.

中国从印度尼西亚进口人造黄油,随后在 2021 年从马来西亚进口 650 吨,比 2020 年的 590 吨增加 10%。

 

The market size of China’s bakery market has risen to 265.7 billion yuan (RM172.53 billion) from 187.7 billion yuan, with an average compound annual growth rate of about 9% from 2017 to 2021.

中国烘焙市场的市场规模从 1877 亿元上升到 2657 亿元(1725.3 亿令吉),2017 年至 2021 年的年均复合增长率约为 9%。

 

This is much higher than the growth rate of the global baking industry’s market size, added the statement.

声明补充说,这远高于全球烘焙行业市场规模的增长率。

 

Zuraida said it is expected that the market size of China’s baked food industry will reach 287.4 billion yuan in 2022.

Zuraida表示,预计2022年中国烘焙食品行业市场规模将达到2874亿元。

 

Last year also saw investment in China’s bakery industry topping 26 other industries, with a total amount of 6.14 billion yuan, which is attributable to the post-Covid-19 recovery in economic activities.

去年,中国烘焙行业的投资也超过了其他 26 个行业,总额为 61.4 亿元人民币,这归功于 Covid-19 后经济活动的复苏。

 

Zuraida said this encouraging outlook for China’s baking industry, with baking fats being one of the key raw materials, augurs well for the downstream segment of Malaysia’s palm oil sector.

Zuraida表示,中国烘焙业的前景令人鼓舞,烘焙脂肪是主要原材料之一,这对马来西亚棕榈油行业的下游部门来说是个好兆头。

 

“To complement palm oil downstream players who are interested in solidifying their overseas business presence, the ministry has embarked on ‘The Global Movement to Champion the Goodness of Palm Oil’ campaign.

为了补充有兴趣巩固其海外业务的棕榈油下游企业,该部已着手开展‘倡导棕榈油优良品质的全球运动’活动。

 

“This platform is intended to spark awareness of the high quality of Malaysian palm oil as well as to counter the various misinformation and false information levelled at our golden oil,” she said.

这个平台旨在激发人们对马来西亚棕榈油高品质的认识,以及打击针对我们黄金油的各种错误信息和虚假信息,”她说。