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Budget 2024: RM2.4 bil boost for Felda, Felcra, Risda | Scoop
The government announces the oil palm replanting incentive, with a dedicated allocation of RM100 million; this incentive will be extended to 7,000 smallholders via grants and loans. – Unsplash pic, October 13, 2023
News

Budget 2024: RM2.4 bil boost for Felda, Felcra, Risda

Move aims to bolster agro-commodity activities, enhance the socioeconomics of smallholders

Main Author Image
Nabila Shila
Updated
6:20 PM MYT

 

KUALA LUMPUR – Felda, Felcra, and Risda will receive a RM2.4 billion allocation from the government to promote agro commodity activities and increase the socioeconomics of smallholders.

Around 560,000ha of oil palm trees are expected to reach 25-year maturity, reducing palm fruit bunch production and resulting in annual losses of up to RM7 billion by 2027.

“To address this issue, the government will implement an incentive programme for oil palm replanting with an allocation of RM100 million.”

“This incentive will be provided in the form of grants and loans to 7,000 smallholders,” he said when tabling Budget 2024 today.

He also added that the palm oil industry should be expanded with an allocation of RM70 million to promote the palm oil industry’s sustainability and boost the Anti-Palm Oil Campaign internationally. 

Meanwhile, the government also allocated RM90 million to encourage small farmers to optimise farmland usage through food production and livestock breeding such as mushrooms, pineapples, coconuts, cows, and chickens to Risda and Felcra. – October 13, 2023

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