Plantation Indstries Ministry: Budget 2022 focuses on targeted development of agricommodity sector

Datuk Zuraida Kamaruddin said her ministry believes that this shows the government’s confidence that the commodity prices will be more stable throughout 2022. — Picture by Firdaus Latif
Datuk Zuraida Kamaruddin said her ministry believes that this shows the government’s confidence that the commodity prices will be more stable throughout 2022. — Picture by Firdaus Latif

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KUALA LUMPUR, Oct 30 — The Ministry of Plantation Industries and Commodities (MPIC) opined that Budget 2022 had focused on a more targeted development of the agricultural commodity sector.

Its minister, Datuk Zuraida Kamaruddin noted that the budget had outlined several measures, including introducing and expanding the use of the RRIM Hydrobest technology to smallholder farmers through a matching grant of RM15 million to help improve the socio-economic status of B40 smallholder farmers.

In a statement today, she said the government had also announced the implementation of the National Rubber Industry Transformation Programme, which aimed to unite smallholder farmers, rubber entrepreneurs and small cooperatives in a larger consortium, to be able to process rubber scrap into rubber creeps.

Furthermore, to support the oil palm industry, the government had allocated RM35 million to implement the Smallholder Oil Palm Replanting Stimulus Scheme and RM20 million to address the anti-palm oil campaign at the international level.

She said under Budget 2022, the government had allocated a total of RM671.5 million for the ministry, comprising RM417.5 million for its operating expenditure and RM254 million for development expenditure.

“Although this amount is 7.95 per cent lower compared to the 2021 allocation, the ministry believes that this shows the government’s confidence that the commodity prices will be more stable throughout 2022.

“The MPIC would like to express its highest appreciation for the allocations made to drive the growth of the agri-commodity industry,” said Zuraida.

She added that the ministry remains committed and ready to implement programmes and initiatives towards the strengthening of the country’s economy. — Bernama

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