The International Monetary Fund expects slow growth in the economies of India and Asean-5 (Indonesia, Malaysia, the Philippines, Singapore, and Thailand) this year, as rising interest rates sap momentum from the global economy.
India’s growth is projected to weaken to 6.1% in fiscal 2023 while the Asean-5 are seen logging 4.3% growth.
Our reports show that in the first quarter, the forecast proved that the agrifood industry including poultry and seafood was similarly trailing, recording a downfall in profit.