MELAKA, Dec 31 — The Malaysian Industry Timber Board (MTIB) expects wood-based products exports to hit RM23 billion this year compared with RM22.01 billion achieved in 2020.
Its director-general Mahpar Atan said the increase in the export value would be influenced by higher prices of products although the quantity would be at the same level, and higher demand albeit not a drastic growth.
"From January to October this year, the country’s wood-based exports stood at RM17.95 billion compared with RM17.80 billion recorded the same period in 2020, an increase of only 0.8 per cent," he told reporters.
Earlier, Mahpar attended the Bumiputera Micro Entrepreneurs Development Programme launched by Malaysian Timber Council (MTC) chairman Norrida Yusoff in Bukit Rambai here, today.
Mahpar said among the main export destinations for the wood-based industry are the United States, followed by Japan, China, Singapore, and India, which import Malaysian products such as furniture, plywood and sawn timber.
Meanwhile, he said the wood-based industry had also incurred losses estimated at almost RM10 million following the floods that affected several areas in the Klang Valley and Selangor in the middle of this month.
"It involved damages to raw materials, equipment such as woodworking machines and furniture that were submerged under flood waters at the factories and small suppliers," he added.
— Bernama
