Agriculture

As the world’s second-largest cocoa producer, Ghana accounts for more than one-fifth of the global cocoa market. The commodity is a crucial export earner and contributor to the country’s economy. After a bumper harvest last season, the country is now looking to develop the segment, increase yields and diversify into growing markets.

After topping Malaysia as the world’s primary producer and exporter of palm oil in 2007, Indonesia is now seeking to support its downstream refining operations and further expand this vital sector. The Indonesian government’s lowering of the export tax cap on crude palm oil (CPO) and refined products last August has seen local refiners moving ahead of their rivals.

Recently launched government-backed ventures in aquaculture, including one to develop seaweed into a major economic product, look set to transform Sabah’s agriculture sector.

A new set of agricultural strategies for the 2012-16 period were approved by the Thai cabinet at a meeting in mid-March, with much of the focus placed on improving food sustainability, promoting the cultivation of high-quality produce and enhancing international competitiveness.

Recent efforts to upgrade Malaysia’s agricultural sector that include increased incentives for farmers to learn new techniques and adopt advanced technology are expected to lead to greater harvest yields and help meet rising domestic demand for food products.