Trade and Commercialization to Meet Global Demand

Author

Rajan M. Holista Biotech, 54, Jalan SS2/72, 47300 Petaling Jaya, Selangor.
Tel: 603-79652888 Fax: 603-79652777  Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Language

English

Title

Trade and Commercialization to Meet Global Demand

Proceeding

Medicinal and Aromatic Plants Seminar (MAPS 2008)

Date

21st October - 22nd October 2008

Place Held

The Legend Hotel, Kuala Lumpur

Abstract

Global trade for herbs in all forms preparation is on the increase. The demand from North America, Europe and Japan continues to outstrip supply. This also represents a very profitable market to service by providers of herbal product the world over. However, this market opportunity is laden with major challenges for any country or company intending to capitalize on this unmet demand. These are very sophisticated markets with very savvy consumers and regulators who will most certainly welcome exotic herbs but expect high standards of professionalism, science, manufacturing and research as well as development. This will also call for higher level of management of the whole process. A better branding of Malaysia will certainly help. Given the fact that we now have to compete in global markets, we have to be very cost conscious as we have to compete with the likes of Indonesia, Indo China, India and China. We need to compete with value added research and innovation to avoid the commodity trap that we are likely to fall into. A better understanding of legal aspects and protection is also very vital.

Keywords

Global trade of herbs; challenges; understanding of legal aspects and protection.

Session

Plenary: Session 2

Topic

Think Global, Act Local: A New Paradigm In Malaysian Herbal Industry (Prof. Emeritus Dr. Abdul Latif Ibrahim-UNISEL)