Agriculture exports to Singapore rise following ringgit's depreciation, says Ahmad Shabery

Malaysia's export of agriculture products to Singapore is expected to rise following the ringit's depreciation, said Agriculture and Agro-Based Industries Minister Datuk Seri Ahmad Shabery Cheek.

He said it was estimated earlier that exports of fruits and agro-based products to Singapore would reach RM300 million annually, acccounting for 20 per cent of the estimated total exports of RM4 million to the republic.

"Definitely these numbers will go up due to the foreign exchange factor," he told reporters after opening the first anniversary celebration of Agrobazaar Malaysia (Singapore) here today.

What's more interesting, Ahmad Shabery said was Singaporeans had the opportunity to savour Malaysian fruits at a cheap price.

He said the depreciation also benefited farmers and exporters.

The idea to have the agrobazaar was mooted by Prime Minister Datuk Seri Najib Razak who said Singapore was the best location for the Federal Agriculture Marketing Authority in an effort to introduce Malaysian homegrown fruits globally.

Besides introducing the 'musang king' durian species, D24 and IOI, Agrobazaar, which acts as a one-stop centre for halal products, also showcased fruits like mangosteans, rambutan, pineapple and guava.

The ringgit is reported to be trading around 2.9877/9969 against 2.9694/9753 on Friday.