KUALA LUMPUR, October 13 — The Malaysian government has earmarked RM100 million in incentives to support the Palm Oil Replanting Programme, aimed at addressing potential productivity issues in the fresh fruit bunch production. Prime Minister Datuk Seri Anwar Ibrahim announced that these incentives would be extended in the form of grants and loans to around 7,000 private palm oil smallholders.
“As of 2027, the area of mature oil palm, which is over 25 years old, is expected to exceed 560,000 hectares. This situation could potentially affect the productivity of fresh fruit bunches, leading to losses of up to RM7 billion annually,” he stated during the Budget 2024 presentation in Dewan Rakyat today. In a concerted effort to sustain Malaysia’s palm oil industry, the government has allocated RM70 million to enhance the industry’s sustainability and intensify campaigns to counter anti-palm oil sentiments on the international stage.
