Ministry: Stronger ringgit brings relief to Malaysia’s cocoa farmers with lower import costs

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KUALA LUMPUR, Dec 11 — The strengthening of the ringgit can lower the cost of importing agricultural inputs, benefiting...

The ministry also noted that cocoa prices in Malaysia are currently on an upward momentum, with cocoa bean prices remaining favourable at around RM20-RM27 per kilogramme.“In October 2024, the average cocoa price in Malaysia rose by 41 per cent to RM19,992 per metric tonne compared to RM14,136 per metric tonne in January 2024,” it said.

The KPK was replying to a question from Senator Datuk Lim Pay Hen on how the strengthening ringgit has positively impacted cocoa prices and the income of local farmers.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Malaysia farmers Ringgit Ministry of Plantation and Commodities Cocoa industry

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-11 @ 09:00:23 (4 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 211 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 24416006

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