KUALA LUMPUR, Dec 12 — The agri-commodity sector has contributed RM64.6 billion or around 5.3 per cent to the gross domestic product (GDP) from January to September 2024, said the Plantation and Commodities Ministry (KPK).
Its Deputy Minister Datuk Chan Foong Hin said the sector also contributed RM152.1 billion or 12.2 per cent to the country's exports, an increase of 15.3 per cent compared to the same period in 2023.
"Regarding imports, the amount stands at RM54.8 billion from January to October 2024.
"This means that the total trade is RM206.8 billion, while the trade balance is RM97.3 billion," he said.
Chan was speaking at the wind-up of the debate on the Supply (Budget) Bill 2025 at the policy level for the ministry in the Dewan Negara today.
Meanwhile, KPK has approved funding for the Private Smallholder Palm Oil Replanting Programme (TSPKS 2.0) under the Palm Oil Replanting Scheme amounting to RM76.16 million until December 5.
During the same period, 1,990 smallholder farms were approved, involving 1,692 smallholders with an area of 4,865.32 hectares under TSPKS 2.0.
He added that KPK and the Malaysian Palm Oil Board (MPOB) did not have any plans to mandate the use of certain effluent treatment technologies for palm oil mills.
However, MPOB always encourages using modern effluent treatment technologies that are environmentally friendly and cost-effective to achieve the standard limits set by the Department of Environment.
— Bernama
