Malaysia's Palm Oil Exports Hit US$26.60 Billion In 2011

TEMERLOH (Pahang, Malaysia), Feb 9 (Bernama) -- Palm oil is Malaysia's biggest commodity exports, registering RM80 billion (US$26.60 billion) last year. In second place was rubber with RM20 billion (US$6.65 billion), Malaysian Deputy Plantation Industries and Commodities Minister Hamzah Zainudin told reporters at Teknologi Mara (UiTM) Jengka campus near here Thursday. He said the country's total commodity exports were RM130 billion (US$43.23 billon) last year. Other commodities exported included cocoa and kenaf, he added. "We expect the value to continue to increase this year on the back of rising demand," he said. He also said efforts to promote Malaysian commodity products would continue in both new and traditional markets such as Japan, China, United Sattes, West Asia and Europe. Meanwhile, Hamzah said his ministry was encouraging cocoa cultivation due to high demand for the commodity in the world market. "The ministry organised the People's Cocoa Programme last year to encourage people to use idle land near their houses for cocoa cultivation. "The ministry will provide quality cocoa seeds hoping that cocoa output will increase in the next few years," he said. There was big potential in the cocoa industry and it could bring lucrative returns, he said. "In the 1990s, Malaysia was among the world's major cocoa producers. Cocoa cultivation area in the 1990s was 420,300ha compared to only about 20,000ha now," he said. (US$1 = RM3.00) -- BERNAMA