KUALA LUMPUR, Oct 2 — The Plantation and Commodities Ministry has submitted bids for financial resources to support replanting activities, especially those by smallholders in the oil palm industry, said its minister Datuk Seri Fadillah Yusof.
Fadillah, who is also Deputy Prime Minister, said they are now pending approval from the Finance Ministry.
“We have to wait for the budget announcement. What we have done is bid for certain funding for replanting, in particular for the smallholders.
“At the same time, we are talking about initiatives (even) for the big players for replanting and so on because the cost of doing business in the agricommodity sector is increasing,” he said to the press after launching the Malaysian Palm Oil Association's (MPOA) National Palm Oil Conference today.
Fadillah said the ministry is looking at ways to help the industry players ensure not only sustainability but also competitiveness in the global market.
— Bernama
