Malaysia seeks RM1.4 billion for palm oil replanting over next five years

[KUALA LUMPUR] Malaysia’s commodities ministry said on Tuesday (Aug 5) that it would seek to boost the allocation for palm oil replanting to RM1.4 billion (S$425 million) under a new five-year economic plan.

The funds, from 2026 to 2030, will help increase the replanting rate, especially among smallholders, Plantation and Commodities Minister Johari Abdul Ghani told parliament.

This year, the government is providing a matching grant with an allocation of RM100 million for smallholders.

Replanting averaged about 2 per cent last year, falling short of the government’s target of 4 per cent, Johari said.

“When replanting is not being taken care of, it will affect our future exports,” he said, with production also being hit. REUTERS