Malaysia’s commodity exports fell 19 per cent to RM84.6 billion in January to November from a year earlier, said Plantation Industries and Commodities Minister Bernard Dompok.

The decline was attributed to the “weaker external demand due to the global financial crisis which began in the second quarter of 2008,” he said in a speech in Kuala Lumpur today.

Malaysia’s exports of palm oil products are expected to exceed more than RM100 billion (US$29 billion) by 2020, said Dompok.

“It is envisaged that the export earnings from the timber industry is expected to reach RM53 billion by 2020, compared to RM22.5 billion in 2008,” he added. — Bloomberg

Source: Business Times