Budget 2024: Measures will be taken to increase food security, says PM

PETALING JAYA: Various forms of subsidies and incentives amounting to RM2.6bil will be channeled to padi farmers and fishermen, says Datuk Seri Anwar Ibrahim.

The Prime Minister said this was an increase of RM600mil from 2023, in line with the government's decision to raise the Padi Price Subsidy Scheme from RM360 to RM500 per metric tonne.

"To help rice farmers' incomes, the floor price for padi purchases will be raised to RM1,300 per metric tonne. The previous floor price was last set by the government in 2014 at RM1,200 per metric tonne," Anwar, who is also Finance Minister, said while tabling Budget 2024 on Friday (Oct 13).

He also said that the government had embarked on a pilot project for five padi planting seasons over two years in several areas, namely Bota Kiri, Perak; Kangar, Perlis; and Kota Sarang Semut in Kedah.

Anwar adde that the government would increase the subsidy for cultivating hill padi (padi bukit or padi huma) from RM40mil to RM50mil to expand its cultivation from the current 43,000ha.

"RM400mil will be used for the implementation of the Food Security Reinforcement Programme. There will be a special focus to increase production of local food crops that still depend on foreign imports," Anwar said.

Aside from that RM150mil has been set aside to work with state governments to optimise land use.

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 Malaysia , Agriculture , Rice , Padi , Fishermen , Food Security


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