Many plantation analysts have revised downward their average CPO price projections this year to RM2,360 -RM2,510 per tonne from RM2,700-RM2,750 per tonne previously .
PASIR PUTEH: Malaysia generated RM122bil in revenue from the plantations and commodity sector last year, making it one of the country’s main export contributors.
Plantations Industries and Commodities Minister Datuk Seri Mah Siew Keong said the sector made a big impact on the nation’s socio-economic development, especially to the smallholding community.
“The sector was the second largest contributor to export revenue after the electrical and electronics,” he said at the Rakan Rakyat Kenaf Industry opening ceremony here on Friday.
Mah said kenaf-based products such as mattresses, pillows and building materials were seeing higher demand in the domestic and international markets.
Hence, the Government will continue to work towards strengthening the kenaf industry, which is currently cultivated on over 2,200ha nationwide, including for fibre and seeds, for which RM5.62mil has been allocated, he added.
“In line with efforts to increase the income of smallholders, the government will continue to provide incentives to kenaf cultivators worth RM2,385 per hectare for fibre and RM2,000 for seeds,” he added.
Mah said the RM25mil kenaf processing factory in Setiu, Terengganu, which is expected to begin operations next year, would produce kenaf-based products for the construction, automotive and bio-composite industries.
The government has also developed Kenaf Processing Centres here and in Rompin, Pahang to process and produce kenaf raw materials to meet domestic and international demands, Mah added. - Bernama
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