KUCHING: The national cocoa industry is showing strong signs of revival following a sharp increase in the price of dried cocoa beans last year, reaffirming its position as a competitive crop.
Malaysian Cocoa Board (LKM) director-general Datuk Dr Ramle Kasin said the average price of dried cocoa beans jumped 141 per cent in 2024, reaching RM24,274 per metric ton compared to RM10,073 in 2023.
“The price surge is significant for all industry players, making cocoa a more competitive crop and reestablishing it as a strategic commodity capable of generating substantial returns if cultivated systematically,” he said in a speech read by Cheah Chee Fong, secretary of the Cocoa and Pepper Industry Development Division, Ministry of Plantation and Commodities, at the Engagement Programme: Promotion of Cocoa Planting in the Sarawak Plantation Sector held at Hotel Raia and Kuching Convention Centre today.
In line with this growth, he added that LKM has introduced incentives such as providing high-quality cocoa planting materials and ongoing technical advisory support to plantation companies, aiming to diversify yields and promote sustainable domestic production.
“Several companies have already shown early interest in cocoa cultivation projects, including Wee Fong Enterprise (30 hectares) and Borneo Freshpick Sdn Bhd (40 hectares).”
Regarding the engagement programme, Ramle highlighted that it also serves as a platform for dialogue, allowing participants to consult experts and gain deeper knowledge on upstream cocoa cultivation.
“This engagement aligns with the National Agro-Food Policy and the 12th Malaysia Plan (12MP), emphasising cross-sector collaboration, inclusive engagement, and active participation to ensure sustainable and resilient industry growth.”
He added that global demand for high-quality cocoa continues to rise, providing Malaysia the opportunity to strengthen its position as a competitive producer, particularly in the premium and ‘single origin’ cocoa segments.
“Malaysia has the advantage in climate, soil, technical expertise, and research facilities.
“What is now needed is synergy and coordinated action between government agencies, technical bodies, and industry players.”
