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Malaysia’s agricultural sector grew 3.1% in 2024, led by palm oil, boosting GDP and exports.
Malaysia’s agricultural sector grew 3.1% in 2024, driven by palm oil, which contributed RM38.1 billion in value-added and accounted for 36.8% of the sector, with fresh fruit bunch production up 5.5%.
Other growth areas included cocoa beans, vegetables, natural rubber, and livestock.
The sector contributed 8.2% to GDP and recorded RM179.2 billion in agri-food exports.
Palm oil prices rose to a two-week high amid increased exports, led by a 66% surge in Indian imports, fueled by upcoming festivals.
However, a strengthening ringgit may cap further gains.
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El sector agrícola de Malasia creció un 3,1% en 2024, liderado por el aceite de palma, impulsando el PIB y las exportaciones.