01/01/2013 (Bernama) - The Ministry of Plantation Industries and Commodities will launch the Oil Palm Replanting Scheme starting Jan 1, 2013 with an allocation of RM100 million.

In a statement Monday, the ministry said the scheme was expected to see the replanting of 100,000 hectares, which were over 25 years, with quality seedlings to boost productivity in the long run.

"Under the scheme, an incentive of RM1,000 per ha would be given to the owners with land size of over 40.47ha, smallholders under Felda and state government agencies and companies with an acreage of below 40.47 ha," it said.

The ministry said the scheme would be based on 'first-come, first-served' basis and the successful applicants would be given until December 2013 to clear the old oil palm trees.

"Those interested to apply for the incentives can get the details and forms from the offices of the Malaysian Palm Oil Board or visit the web www.mpob.gov.my," he said.