Minister of Plantation Industries and Commodities Datuk Mohd Khairuddin Aman Razali said the export revenue of agricommodity products had recorded RM68.1 billion or 17.6 per cent of the country's total export revenue.
“This revenue was 66.5 per cent growth compared to RM40.9 billion recorded for the same period last year.
"This increase is due to the significant increase in the prices of major agricommodities which continued to record an increase in average prices during the four-month period," he said in a statement today.
According to him, rubber-based products are the largest contributor to agricommodity exports with a contribution of 43.9 per cent.
The sector continued to show encouraging development when it recorded an increase in exports of 175 per cent or RM29.9 billion, he said.
"This increase is due to the surge in export value of latex-based products, especially rubber gloves, which has recorded a two-fold increase of 257.6 per cent to RM24.5 billion compared to RM6.9 billion in the same period in 2020," he explained.
According to the ministry, the export quantity of rubber gloves also recorded an increase of 12.8 per cent to 349,100 tonnes compared to 309,400 tonnes for the same period in 2020, which was driven by high demand from the healthcare sector worldwide.
Palm-based products, he said, accounted for 40.6 per cent of total agricommodity export earnings,
“It also recorded an increase of 29.5 per cent which is RM27.6 billion this year. However, the export quantity of palm-based products recorded a 4.5 per cent decrease to 7.2 million tonnes compared to the same period last year which was 7.6 million tonnes," he said.
Meanwhile, Khairuddin said wood-based products had become the third largest contributor with 12.2 per cent to the overall export earnings of the agricommodity sector.
"From January to April 2021, the value of exports was RM8.3 billion, an increase of 29.2 per cent," he explained.
As for export income for cocoa and pepper products, the export value of cocoa products was RM2.2 billion, an increase of 2.9 per cent over the previous year, while the export value of pepper products was RM42.1 million, an increase of 28 per cent compared to 2020, he said.
Khairuddin said that based on the trade performance of the agricommodity sector for January to April 2021, the ministry was confident that the trade performance would remain positive for the remainder of 2021.
"The ministry also believes that through the injection of additional funds by the government under PEMERKASA and PEMERKASA Plus, it will further boost the development momentum of the country's agricommodities industry," he added.
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on the Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on the FM93.9 (Klang Valley), FM107.5 (Johor), FM107.9 (Kota Kinabalu) and RM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial