
Malaysia aims to expand cocoa cultivation to 10,000 hectares by 2030
This initiative aims to meet rising demand for high-quality Malaysian cocoa, up from the current 5,985 hectares.
Deputy Plantation and Commodities Minister Datuk Chan Foong Hin highlighted the Cocoa Cultivation Promotion Programme as a key strategy.
The programme, led by KPK and the Malaysian Cocoa Board, focuses on boosting cultivation through the plantation sector.
Chan also announced an upcoming engagement programme in Tawau to promote cocoa farming in Sabah.
He shared this during a Dewan Rakyat session in response to a question from Datuk Lo Su Fui (GRS-Tawau).
Recent data shows dried cocoa bean prices surged by 141 per cent to RM24,274 per metric tonne in 2024.
This marks a significant rise from RM10,073 in 2023, reflecting growing market demand.
When asked about cocoa-based products, Chan emphasised KPK's focus on branding premium local cocoa.
The ministry promotes single-origin and fine-flavoured cocoa to attract global chocolate makers.
KPK also provides tailored support to farmers, including fertilisers and pest control measures.
These efforts aim to enhance soil fertility and reduce crop losses from pests and diseases.
The expansion plan aligns with Malaysia's goal to strengthen its position in the global cocoa market.
Farmers will benefit from targeted assistance to sustain and grow their cocoa cultivation.
The initiative underscores Malaysia's commitment to high-quality cocoa production and agricultural sustainability.
With rising prices and demand, the sector presents new opportunities for local producers.
The government's support aims to ensure long-term growth and competitiveness in the cocoa industry. - Bernama
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Star
41 minutes ago
- The Star
DRB-Hicom plans to acquire Spirit Malaysia
PETALING JAYA: DRB-Hicom Bhd plans to acquire the Malaysian operations of aerospace manufacturer Spirit AeroSystems – the world's largest standalone aerostructures company with an enterprise value of US$95.2mil. In a statement, the conglomerate said its wholly-owned subsidiary, Composites Technology Research Malaysia Sdn Bhd (CTRM) had entered into a conditional share purchase agreement with Spirit AeroSystems Inc and Spirit AeroSystems International Holdings, Inc. The acquisition is expected to be completed by year-end, making Spirit AeroSystems Malaysia Sdn Bhd (Spirit Malaysia) a wholly-owned subsidiary of CTRM. The purchase consideration is set to be fully satisfied in cash, which is expected to be funded through bank borrowings. Based on the latest audited consolidated financial statements for financial year 2024, Spirit Malaysia posted a profit after tax of RM70.1mil and net assets of RM770.5mil. According to DRB-Hicom, the acquisition represents a strategic opportunity to further enhance CTRM's competitive position in the aerospace industry by enhancing its aerostructures expertise. 'This would contribute towards improved scale, efficiency, and growth in various areas that would elevate CTRM's presence in key aerospace programmes,' the company said. The conglomerate added that it would also deepen its relationships with global original equipment manufacturers, while expanding CTRM's relationships with Airbus for its A220, A320, and A350 programmes, and with Boeing on the 737 and 787 programmes. 'At the same time, CTRM will enhance its presence across the supply chain and be better positioned for long-term competitiveness and sustainable growth in an increasingly challenging and dynamic aerospace market,' DRB-Hicom said. CTRM is known for developing and producing aircraft composites components for aerospace and non aerospace applications as well as offering a range of support services such as testing laboratory facilities, composites engineering and supplier management services. Spirit Malaysia supplies key components and other assemblies for Airbus and Boeing marquee programmes, including A220, A320/A321, A350, B737 and B787. In addition to its aerospace composite and metallic assembly expertise, it also provides engineering services, supply chain management services and shared services. Spirit Malaysia is also a key customer of CTRM, contributing 54.1% towards the latter's consolidated revenue for the financial year ended Dec 31, 2024. The acquisition followed news of Boeing receiving regulatory approval from the UK's Competition and Markets Authority for its planned acquisition of Wichita-based Spirit AeroSystems. According to reports, this meant investigations will not continue on to 'phase two'. Initial investigation began in June 2025 and had a deadline for the end of this month. The deal is reportedly expected to be completed in the fourth quarter of this year. At market close yesterday, DRB-Hicom's share price was 82 sen.


The Star
an hour ago
- The Star
Domestic markets face volatile fund flows
PETALING JAYA: Fund flows into local capital markets are expected to remain volatile as investors focus on looming US sectoral tariffs on Malaysia's pharmaceutical and semiconductor goods. United Overseas Bank (M) Bhd (UOB) expects capital flows into Malaysia and other emerging markets to remain volatile, with investors continuing to rotate their funds across sectors based on each country's resilience to US tariffs and shifts in trade policy. UOB said investor attention is now turning to sector-specific levies by the United States and a potential 10% surcharge on Brics member countries and their allies. 'Other key near-term issues include US-China trade negotiations, the US Federal Reserve's policy independence and its rate trajectory,' UOB said in a research note. UOB added that lingering tariff and trade uncertainties would continue to weigh on the ringgit till the end of the year before the currency regains strength from the first quarter of next year (1Q26). UOB projects the ringgit strengthening against the US dollar to RM4.19 in 2Q26 from RM4.20 in 1Q26 and RM4.23 in 4Q25 and RM4.27 in 3Q25. Analysts noted that July was the second consecutive month foreign investors continued to pare their holdings of Malaysian equities and debt. In its weekly fund-flow report, MBSB Research said foreign fund outflows from Bursa Malaysia in July had extended into August. In the week ended Aug 8, foreign investors extended their net selling of Malaysian equities to fifth consecutive week, registering a net outflow of RM1.14bil. This was three times higher than the previous week's outflow of RM378.1mil. Foreign investors were net sellers on every trading day, with outflows ranging from RM145.6mil to RM318.1mil. 'The largest outflow was recorded last Tuesday, followed by last Thursday with RM291mil, last Monday with RM205.7mil and last Wednesday with RM174.7mil, while last Friday recorded the smallest outflow. 'The only two sectors that recorded net foreign inflows last week were industrial products and services (RM62.7mil) and transportation and logistics (RM36.2mil). 'The top three sectors that recorded the highest net foreign outflows were financial services (RM344.3mil), healthcare (RM239.1mil) and utilities (RM210.2mil),' said MBSB Research. The selling pressure is also present in bonds. Maybank Investment Bank Research (Maybank IB) said moderate selling of ringgit bonds continued in July for a second consecutive month, driven in part by a rebound in the greenback. Outflows totalled RM5.5bil from June's RM5.4bil, although on a year-to-date basis, flows stayed positive at RM15.9bil from a peak of RM26.9bil in May. Maybank IB said foreign holdings of Malaysian Government Securities and Government Investment Issues eased to 21.1% in July from 21.8% in June, while across Asean the picture was mixed, with Indonesia attracting inflows and Thailand experiencing outflows.


BusinessToday
3 hours ago
- BusinessToday
Bangladesh Eyes Proton EVs For Local Distribution
Proton Holdings Bhd's electric vehicle manufacturing has drawn interest from Bangladesh which is seeking to secure investment from the Malaysian national carmaker. Attracting investment by Malaysian companies across various sectors figures prominently on the agenda of Bangladesh interim government chief adviser Muhammad Yunus during his three-day Malaysia visit, which starts today. 'They produce a lot of cars. During the visit, Bangladesh will invite Proton Holdings to invest here,' Yunus's press secretary Shafiqul Alam said at a media briefing in Dhaka yesterday, according to a Bangladesh Sangbad Sangstha report. He was referring to the Malaysian automaker's electric vehicle (EV) push in his remarks. The company launched its first-ever electric vehicle, the Proton 7, in December 2024, and is holding a tour of key Malaysian cities between August and October to preview the Proton 5, the second car in the EV will also explore Malaysia's involvement in deep-sea fishing. 'We catch Hilsa and other marine fish within 40 to 50 kilometres of the deep sea. However, our maritime boundary is about 210,000 square kilometres,' Shafiqul Alam said. Yunus, whose trip is being undertaken at the invitation of Malaysian Prime Minister Datuk Seri Anwar Ibrahim, is accompanied by foreign affairs adviser Mohammad Touhid Hossain, expatriate welfare and overseas employment adviser Asif Nazrul and power, energy and mineral resources adviser Fouzul Kabir Khan. The national security adviser Khalilur Rahman, special envoy to the Chief Adviser on international affairs Lutfey Siddiqui and Bangladesh Investment Development Authority (Bida) executive chairman Chowdhury Ashiq Bin Harun are also part of the delegation.