Minister confident that RM75bil palm oil export target in 2021 will be met

PETALING JAYA: With the additional funds allocated to the Plantation Industries and Commodities Ministry, its Minister Datuk Dr Mohd Khairuddin Aman Razali (pic) believes that this year's palm oil export of RM75bil will be met.

He said this is because the additional funds allowed the purchase of additional machinery, adding that the total exports for the agri-commodity sector in 2020 have increased by 17.11% to RM150.5bil, compared to RM128.5bil in 2019.

"This year is a year filled with challenges. The ministry will be resilient in facing challenges to develop the national agri-commodity industry, which is a significant contributor to the country's economy and a catalyst to the increase in income for those living in rural areas," said Mohd Khairuddin.

Mohd Khairuddin said this in a statement issued on Saturday (March 20), in response to a recent announcement by the government regarding the Strategic Programme to Empower the People and Economy (Pemerkasa).

Under Pemerkasa, the government announced that it has approved a matching grant of RM30mil to encourage investments in mechanisation and automation of the palm oil industry.

Pemerkasa is a series of economic revival programmes launched by the government to kick-start the country's economic recovery.

Muhyiddin had also said another matching grant of RM20mil will be allocated for the purchase of machinery for Sustainable Oil Palm Growers Cooperatives.

Commenting further on Muhyiddin's announcement, Khairuddin said the matching grant of RM20mil will benefit 65 cooperatives with the membership of 6,000 smallholders.

"Besides that, the digitalisation matching grant under Bank Simpanan Nasional (BSN) that was previously for small and medium manufacturing companies is now opened to cooperatives," he said.

"This will also benefit agri-commodity cooperatives, which will be strengthened by the ministry to expand their business activities through the digital platform," he added.

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