LKM targets RM9 billion cocoa exports this year
KUALA LUMPUR: The Malaysian Cocoa Board (LKM) is targeting the export value of the country’s cocoa products to hit RM9 billion this year and grow further to RM10 billion in 2025.
Deputy Plantation and Commodities Minister Datuk Chan Foong Hin said the export value of cocoa products recorded a surge of 47.9 per cent to RM8.21 billion in 2023 compared to RM5.55 billion in 2018.
Chan also disclosed that the export value of cocoa beans and cocoa products amounted to RM6.87 billion in 2021, RM7.82 billion in 2022, and reached RM8.21 billion in 2023.
He was replying to a question from Senator Datin Ros Suryati Alang during a question and answer session in the Dewan Negara yesterday.
“In 2021, Malaysian cocoa products had penetrated
107 market destinations worldwide.
“The number increased to 176 destinations in 2022 and surpassed 250 destinations in 2023,” said Chan.
He further noted that Malaysian exporters successfully entered 27 new markets across Asia, Africa and Europe in 2022 for cocoa paste products, unsweetened cocoa powder, and chocolates, and ventured into 23 new markets in Asia, Africa, South America, and Europe last year for cocoa butter and cocoa cake products.
Chan outlined initiatives by the ministry, facilitated through LKM, aimed at bolstering the cocoa commodity export market.
These include the International Business Matching Programme and the Digital Cocoa Marketing Programme.
Moreover, plans are underway to expand cocoa plantations from 5,895 hectares to 10,000 hectares within five years.
The focus will be on cultivating premium cocoa varieties, single-origin cocoa, and uniquely flavoured cocoa to tap into niche markets, he added. — Bernama