KUALA LUMPUR: Malaysia has exported close to RM160 billion worth of commodities and related products per annum, with oil palm accounting for the biggest share at more than RM100 billion, according to Plantation and Commodities Minister, Datuk Seri Johari Abdul Ghani.
He highlighted that the commodity sector contributed around RM20-25 billion to the nation's tax revenue.
Speaking at the PenTalk session in conjunction with the Umno 2024 General Assembly here today, he said the Ministry of Plantation and Commodities (KPK) is currently focusing on producing palm oil that stands out from other producing countries by emphasising sustainability.
"This way, no country can block our oil palm export because we fully comply with environmental and international standards as well as labour regulations in our production processes," he said.
At the same time, Johari also stressed that the KPK is paying special attention to the production of oil palm compared to other commodities, as Malaysia is the world's second-largest oil palm exporter.
He said that it was important to prevent oil palm from experiencing the same fate as rubber, pointing out that Malaysia used to be a leading exporter of natural rubber, but has now become an importer of the product instead.
"Every year, the government has to import RM6 billion worth of natural rubber to be used by our rubber product manufacturers," he added.