KUALA LUMPUR – Malaysia is set to surpass the export value for its agro commodity sector from its projected target of RM180 billion, with an estimate of RM206 billion by year-end.
According to Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin, the country had officially recorded RM154.7 billion from January to September, which was 86% of the RM180 billion target.
“In November, the ministry had surpassed the set target and recorded RM189 billion in export value for the agro commodity sector.
“Subject to confirmation and processes implemented by the Statistics Department for the final quarter this year, it is estimated that the sector is set to record RM206 billion in export value,” she told The Vibes in a written reply recently.
Marking over 100 days since assuming the cabinet post, the Ampang MP expressed her delight over the positive increase.
The growth in agro commodity exports, said Zuraida, were driven mainly by products such as palm oil and rubber gloves.
“The export value of pure rubber and rubber products have increased by 88.5% amounting to RM 59.1 billion, while palm oil produce increased by 43.3% to RM74.4 billion.”
Meanwhile, Zuraida said timber exports were the third highest contributor to the sector, with a 1.2% increase to RM15.9 billion.
“At present, Malaysia remains the second largest exporter of palm oil in the world, in addition to being the biggest producer and exporter of rubber gloves in the world, with a 62% share in the world market.
“Malaysia remains eighth in the world for furniture exports,” she said.
As of September, India remains the largest importer of Malaysian palm oil with 3.22 million tonnes, followed by the European Union with approximately 1.47 million tonnes, and China with 1.72 million tonnes.
Other countries include Pakistan (574,608), Turkey (637,792), Kenya (593,097), Philippines (541,034), Japan (388,372), Iran (358,999), and South Korea (304,460). – The Vibes, December 25, 2021
