Tawau - Economy - Cocoa Industry

Cocoa Industry

Tawau is the world's third largest producer of cocoa beans after Côte d'Ivoire and Ghana. It was named the cocoa capital of Asia in the 1980s. According to the director of Agricultural & Rural Development Department for the Vietnamese region, Malaysian cocoa seeds are the best in Asia. As of February 2002, the bean price for the SMC1A grade ex-Tawau in Malaysia's growing area rose to 5,173 ringgit (US$1,361) a tonne from 4,890 ringgit one week earlier. Malaysia plans to increase its cocoa beans output to 250,000 tonnes a year to help meet the rising of country's grinders' demand and cut down the imports of cocoa bean.

Read more about this topic:  Tawau, Economy

Famous quotes containing the word industry:

    For almost seventy years the life insurance industry has been a smug sacred cow feeding the public a steady line of sacred bull.
    Ralph Nader (b. 1934)