KUALA LUMPUR: The Malaysian cocoa industry contributed RM8.2 billion in export earnings last year, with chocolates alone accounting for RM1.66 billion.
The Plantation and Commodities Ministry is targeting RM9 billion in export earnings this year, as the Malaysian Cocoa Board (LKM) aligns with ministry initiatives and implements various programmes to stabilise the cocoa supply chain despite the global market dynamics.
Deputy Minister Chan Foong Hin said, “Under the LKM, the cocoa biotechnology research centre has pictured the innovation, spearheading research into cocoa genome cloning and fostering collaborations that position Malaysia in the global cocoa industry and, with such initiatives, it appears as an enabler to the nation’s agricultural capabilities and paves the way for sustainable growth and economic prosperity.”
“The commodity industry supports the livelihoods of approximately one million people along the supply chain, including 450,000 smallholders. In 2023, this sector generated RM102 billion in export revenue,” he said in the launching ceremony of Foods and Drinks Malaysia 2024 by SIAL Network (FDM 2024) today.
He said that the main highlight from the ministry is the importance of cocoa and plantation sectors within the food industry, which provides ingredients such as cocoa and peppers.
In the pepper sector, the Malaysian Pepper Board (MPB) has planned nine projects and programmes totalling RM72.6 million to promote growth in the pepper industry.
“MPB is taking the pepper industry to new heights through the National Agricommodity Policy 2021-2030, intending to get Malaysian pepper in every kitchen and every home, restaurants and supermarkets in Europe, the Middle East, Asia and worldwide,” said Chan.
The ministry will remain steadfast in fostering sustainable development across plantation sectors, he said, adding that it will lead by example in the responsibility of agricultural practices and “all efforts are beyond economic achievements,” he said.
Chan stated that palm oil is important in the Malaysian commodity economy, where the sector has contributed about 3% to national gross domestic product.
FDM 2024 is a pivotal event for the food industry, providing a global platform for business owners, industry leaders and innovators to showcase and discover groundbreaking products and technologies.
The three-day event, being held at the Malaysia International Trade and Exhibition Centre, started yesterday with the theme of “Inspire Food Business”, which aims to drive and accelerate innovation and collaboration within the industry.
Comexposium Asia Pacific director Henri Tan explained that FDM 2024 is intended to be a catalyst for local and regional entrepreneurs and startups to play a greater role in the global food markets.
“By showcasing innovative products, facilitating networking opportunities, and fostering collaborations, we are creating a platform that empowers entrepreneurs and startups to expand their reach and influence, access new markets, and connect with potential partners and investors,” said Tan.
