Kota Kinabalu: Deputy Minister of Plantation and Commodities, Datuk Chan Foong Hin, will focus on developing the downstream palm oil industry, as well as the production of biofuel and biomass in Sabah.
Chan said his Ministry oversees the development of six commodities, namely palm oil, cocoa, rubber, pepper, tobacco and kenaf, and timber.
He said these six commodities, especially palm oil, is one of the important economic sectors in Malaysia.
In Sabah, he said the palm oil industry makes up 25 per cent of the State Government’s annual revenue, contributing between RM1.2 billion and RM1.5 billion to the State coffers yearly in 2022 and 2023 through the 7.5 per cent sales tax imposed on crude palm oil.
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