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The Malaysian government, through the Ministry of Finance and Agriculture, has launched the Palm Oil Replanting Incentive Scheme (TSPKS 2.0) for smallholder farmers, setting up a special fund of RM100 million. The funds will be fully distributed by the Agricultural Bank of China, covering 50 %赠款和50% individual smallholder financing.
The scheme aims to support private small-scale oil palm plantation owners who can earn RM14,000 per hectare in Peninsular Malaysia and RM18,000 per hectare in Sabah and Sarawak. The funds were used to prepare the planting area, purchase oil palm seedlings and maintain the park. The government is committed to ensuring the long-term economic viability of the palm oil industry, emphasizing the importance of mechanisation and research and development.
Considering the increasing global demand for palm oil, the government is advocating to increase productivity to meet the growing demand.
(Source: nst Image source: freepik)
