ACCORDING to the article “Food Imports and the Exchange Rate: More Than Meets the Eye” in Bank Negara Malaysia’s latest “Quarterly Bulletin” (Third Quarter, 2019), our country remains a net food importer with imports forming at least a quarter of our total food supply (24%). This means we have yet to attain self-sufficiency in our food supply.
Our total food import in 2018 was valued at RM54bil, an increase from RM43bil in 2013. This reflects a hike of 5% in the compound annual growth rate over five years.
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