Malaysia exploring new markets for commodity exports, says deputy minister

LAHAD DATU, Oct 24 — Malaysia is in the midst of exploring new markets for all commodities including rubber and palm oil, said Primary Industries Deputy Minister Datuk Seri Shamsul Iskandar Md Akin.

He said the move was to ensure the growth in revenue from the export of all commodities and their continuous contributions to the country and the people.

“The new markets for palm oil include North Africa, besides maintaining the traditional markets which are the major buyers of Malaysian palm oil.

“We are also looking for new markets to introduce a new product by the Malaysian Rubber Board, that is, seismic glass (building material) which absorbs shocks such as tsunami…buildings which use this glass can absorb this kind of shocks (tsunami),” he said.

He said this to reporters after the Love the Commodity: Talk on Training and Career programme at SMK Silabukan near here, today.

Shamsul Iskandar said the move to open or explore new markets was in line with the stiff competition with other countries.

“For instance, previously, Malaysia controls the palm oil export market with a share of over 50 per cent but now it has dropped following competition with countries such as Indonesia,” he said.

Earlier, during his speech, Shamsul Iskandar said the commodity sector recorded export value of RM84.9 billion for the January to August 2018 period, down 9.2 per cent compared with RM93.4 billion in the same period last year.

Taking cognisance of this, he said his ministry, through the Institute of Malaysian Plantation and Commodities (IMPAC), is currently focusing on efforts to develop and empower human capital especially to increase the number of skilled and semi-skilled workforce.

“There is a need for local manpower who are young, knowledgeable and skillful in the plantation sector to increase productivity and revenue from commodity exports,” he said.

He said today’s programme was among the initiatives undertaken by IMPAC with the cooperation of other parties such as the Education Ministry and Human Resources Ministry to disseminate information on the need for employment, as well as encouraging youths to venture into training and career in the plantation and commodity sector.

“The programme targets secondary school leavers and youths as well as management executives in the sector,” he added.

Some 1,000 students from 10 schools here participated in the one-day programme. — Bernama

Source: MalayMail