“In general, the current market presents unprecedented and distinct opportunities in terms of consumer products for the West and industrial products for the East,” said MTC East Asia, Europe and Americas international business development division director Tan Ting Wai.
He shared that there are opportunities in supplying value-added semi-finished and finished products like outdoor furniture to China. Existing homeowners will also follow the same pattern, which will lead to remodelling activity propelling demand for tropical hardwood, especially for residential construction and renovations.
Malaysia’s market share for tropical timber has dropped, in part due to supply issues in Malaysia during the various movement control orders and compounded by a severe lack of shipping containers.