Ministry says Budget ’17 to spur plantation and commodity sector

KUALA LUMPUR, Oct 22 ― The development of the plantation and commodity sector continues to be given emphasis under the 2017 Budget 2017 to drive its growth.

In a statement, the Ministry of Plantation Industries and Commodities said it had formulated various plans and initiatives to strengthen the industry and increase its contribution to the national revenue.

“The ministry will continue to encourage and strengthen the downstream sector of commodities besides exploring new markets to enhance their competitiveness globally.

“Focus will also be given to increasing the efficiency and productivity at every stage of the value chain, including producing commodity-based products of high value-added and eco-friendly,” it said.

As 2017 will be a challenging year for the commodity sector due to the volatile world’s economy, the ministry said focus would continue to be given to the plantation and commodity sector as it made a significant contribution to economic development of the country.

The ministry said various assistance towards improving productivity would be provided to increase the income of commodity entrepreneurs in rural areas, especially smallholders.

“Efforts to increase domestic consumption of commodity products will also be carried out,” it said.

It said the programmes which would be implemented by the ministry through the 2017 Budget included the export development of commodity products (RM286 million), a scientific study to strengthen food safety (RM50 million) and the Oil Palm Smallholding Replanting Stimulus Grants (RM30 million). ― Bernama