KOTA KINABALU – With the current high demand for cocoa, there is a huge potential market for local industry players to step in, said Deputy Plantation Industries and Commodities Minister Datuk Willie Mongin.
He said that 95% of cocoa used in the country is sourced from Ivory Coast and Ghana, even though it was a cash crop for Malaysia in the 1980s.
“Demand for cocoa is very high (now), 95% of the cocoa beans used by the mid-level industries like grinders are imported. This is a huge opportunity (to be involved in the cocoa industry),” he told reporters after launching the National Malaysia Cocoa Seminar here today.
Malaysia imported RM119.29 million worth of cocoa powder in 2020, becoming the 28th largest importer in the world. The country is also the sixth biggest producer of cocoa products in the region, he added.
Mongin said Malaysia produces many premium chocolate products, fetching high retail prices.
“Unfortunately, awareness and quality of our chocolates have not reached encouraging acceptance. Many still do not see the benefits of locally produced chocolates, when most foreign premium brands source raw materials from Malaysia.
“The raw materials are from us, but (even) when they sell at a higher price locally and generally, we prefer the foreign brands more than our own.”
According to him, as part of the effort to revive Malaysia’s cocoa glory days, the Malaysian Cocoa Board is currently undertaking two major studies to develop mid-level and downstream cocoa industries.
He noted the Malaysia Cocoa Board is now in the midst of a study to establish a cocoa exchange hub in Johor Baru.
“The hub will expedite the quarantine process for cocoa beans and hasten the release of supply to the grinders.”
He said the Plantation Industries and Commodities Ministry is now working closely with the Agriculture and Food Industries Ministry to propose several initiatives to facilitate the two plans and will be presented to cabinet.
Also present were Plantation Industries and Commodities secretary-general Datuk Ravi Muthayam, Malaysia Cocoa Board chairman Rahimah Majid and member of the Malaysia Cocoa Board of Directors Datuk Mariana Tinggal. – The Vibes, June 22, 2022
