On 10 February 2021, Tyson Foods, Inc. (NYSE: TSN) and Malayan Flour Mills Berhad (KLSE: MFLOUR) announced a partnership in which Tyson Foods will invest in MFM Berhad integrated poultry business, which will add more supply flexibility for both companies.
In that announcement, both parties specifically highlighted Malaysia’s position as one of the key poultry markets in Southeast Asia, with a high per capita consumption of poultry. Further to this, they added that according to the Halal Industry Development Corporation (HDC), Malaysia’s halal industry market value is expected to reach $147.4 billion USD (RM614.36 billion) by 2025 and the country exports about $9 billion USD (RM35.4 billion) in halal-certified products.
This announcement indirectly recognised the strength of Malaysia as a halal consumption and exporting powerhouse.
GIUF’s larger agenda of Ummah Friendly Consumption (not only the production and manufacturing of halal food but all the related services within its supply chain), a concept expanded with our partner UNISOF is getting more substantively relevant with this recent announcement from two major food players, one from USA and the other from Malaysia.
The ummah, is a massive consumer of food items – the food supply chain is crucial and we want to empower the consumers to determine the real meaning of Ummah Friendly Consumption from their own community.
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