Malaysia's export earnings from cocoa beans and products are expected to reach 2 billion ringgit (531.91 million US dollars) in the year 2005 and will improve further in 2006, a senior official said Monday.

As the the third most important agriculture commodity after palm oil and rubber, cocoa and related products created 1.6 billion ringgit (425.53 million US dollars) worth of export earnings in 2004, Deputy Minister of Plantation Industries and Commodities Anifah Aman said.

World consumption of cocoa beans has been increasing at an annual rate of 2.3 percent, Anifah said in his opening remarks at the third Malaysian Cocoa Trade and Technical Awareness Program here.

"Therefore, there is still plenty of room for further expansion in the global demand for cocoa particularly cocoa-based products," he said.

Malaysia plays an important role as a supplier of cocoa products, supplying about 6.5 percent of the total world demand, Anifah said.

This country also ranks the fifth largest cocoa processor in the world, the largest in Asia and the third largest origin processor after Cote d'Ivoire and Brazil, Anifah said in his speech.

Currently, Malaysia's cocoa products are exported to more than 66 countries and regions, the deputy minister added.

Anifah also urged local producers and traders to address challenges brought by globalization and trade liberalization and expand export markets for Malaysian cocoa products.

Source: Xinhua