“However, it is expected that export earnings contribution from cocoa and cocoa-based products, as well as cocoa grinding activities, will decline by 18% following the implementation of the Conditional MCO (CMCO), ” according to the Ministry of Plantation Industries and Commodities in a statement yesterday.
JOHOR BARU: The country’s export earnings contribution from cocoa and cocoa-based products, as well as cocoa grinding activities, is expected to decline by 18% due to the implementation of the Movement Control Order (MCO) to stem the spread of Covid-19.
“Today, Malaysia is the second-largest cocoa beans processing country in Asia and seventh in the world, accounting for 22% of the market for cocoa-based products in the Asia-Oceania region. The value of chocolate exports last year stood at RM1.14bil compared with RM1.03bil in 2018, an increase of 10.7%.
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