Malaysian cocoa market shows sustained growth and global potential

Malaysia's cocoa market is booming, with exports hitting RM8.2 billion in 2023 and ambitious targets of RM9 billion for 2024 and RM10 billion by 2025. This surge is fueled by rising global demand for cocoa products such as cocoa butter, cocoa powder, and chocolate. The Malaysian Cocoa Board (MCB) is enhancing domestic cultivation and adopting advanced technologies to address global cocoa shortages and price hikes. Key initiatives include a RM9.5 million investment in plantations and the Cocoa Product Production Stimulation Programme, aimed at bolstering Malaysia's global market position and supporting local farmers.

Malaysia’s cocoa market is experiencing significant growth, with expectations of accelerated growth in the coming years. In 2023, the sector’s exports reached an impressive RM8.2 billion, and the Malaysian Cocoa Board (MCB) is targeting a growth of RM9 billion in 2024, with the goal of surpassing the RM10 billion mark by 2025. This growth is driven by the consistent increase in export value in recent years. In 2021, the market recorded RM6.8 billion in exports, followed by RM7.8 billion in 2022. Malaysian cocoa has reached 205 countries, with Singapore, the United States, Japan, China and Indonesia as the main destinations. The products that contribute the most to these exports are cocoa butter, cocoa powder and chocolate, which have been in high demand globally. Industry experts believe that Malaysia has significant potential to become even more relevant in the global cocoa market, especially in a scenario where global production is facing significant challenges. Recently, ...