Epidemic control: Malay cocoa export revenue is expected to decline by 18%
According to a statement issued by the Ministry of Plantation and Original Industries of Malaysia, as the Malaysian government issued an action control order (MCO) to curb the spread of the new crown epidemic of COVID-19, export revenue from cocoa, cocoa products and cocoa powder grinding business is expected to decline18 %.
It is reported that Malaysia is the second largest cocoa bean processing country in Asia and the seventh largest in the world, accounting for 22% of the cocoa products market in Asia Oceania. Chocolate exports last year were 1.14 billion Malaysian ringgits, and in 2018 it was 1.03 billion ringgits, an increase of 10.7%.
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