Commodity-based exports value rises 27% to RM59.1b

The value of Malaysia’s commodity- based exports rose 27.1% to RM59.1 billion for the January to May 2017 period, surpassing the RM46.5 billion achieved for the same period last year.

Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said that even though the global economy was uncertain at times, the value of the country’s commodity exports recorded an increase following several initiatives implemented by his ministry.

He said oil palm-based exports were the biggest contributor to the total exports value, registering a growth of 31.54% to RM32.2 billion until May 2017, compared to RM24.5 billion in the same period in 2016.

“As usual, the main export destinations for palm oil were India, followed by Europe and China,” he told the media after attending the Hilir Perak district and Mobile Community Transformation Centre (Mobile CTC) Hari Raya open house at the Menara Condong Teluk Intan compound yesterday.

Elaborating further, Mah — who is also Teluk Intan MP — said the second-highest export contributor was the rubber industry which rose 42.48% to RM14 billion up to May from RM9.8 billion for the same period last year.

Two other commodity exports which registered growth were the cocoa and wood-based industries, which increased 9.1% (RM2.4 billion) and 6.76% (RM9.7 billion) respectively.

The pepper industry, however, saw a decline of 8.64% to RM134.39 million against RM147.1 million in the same period last year.

“Similarly, the kenaf industry exports (tobacco) fell 21.29% to RM528.57 million from RM671.55 million in the same period in 2016,” he said.

Mah said if the commodity-based exports grew at a consistent rate, he projected its export value for this year could hit RM130 billion, exceeding the RM122 billion achieved last year.

Meanwhile, among the departments and agencies involved in the organisation of the Mobile CTC were the National Heart Institute, Inland Revenue Board, Pilgrims Fund Board, JobsMalaysia, National Higher Education Fund Corp, and the Public Sector Home Financing Board. — Bernama