Lang
Malaysia’s Ministry of Plantation and Commodities said on Tuesday it will seek to increase oil palm replanting allocations to RM1.4 billion, or about $331 million, under a new five-year economic plan.
Plantation and Commodities Minister Johari Abdul Ghani told parliament that the funds, to be allocated from 2026 to 2030, would help raise the replanting rate, especially among smallholders.
He noted that this year the government is providing a similar grant with an allocation of RM100 million, or about $24 million, for smallholders.
Johari added that the replanting rate averaged around 2% last year, below the government’s 4% target.
He said: “When replanting is not given attention, it will affect our future exports,” adding that production would also be affected.