THE palm oil industry is an important contributor to Malaysia’s economy and development. It has boosted Malaysia’s economy by increasing income from exports and provided high-skilled and low-skilled jobs to more than 650,000 small farmers.
Palm oil accounts for more than 8% of the country’s exports and is worth approximately US$19.5bil. RM77.85bil of Malaysia’s annual export revenue is generated from palm oil and its products, and about 40% of all oil palm plantations in Malaysia are cultivated by small farmers.
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