No plans to reinforce oil palm replanting programme via grants - MPC
15/07/2024 (The Sun), Kuala Lumpur - The government does not plan to reinforce the oil palm replanting programme via grants for now, the Ministry of Plantation and Commodities (MPC) said.
Its Deputy Minister Datuk Chan Foong Hin said the government has nevertheless allocated RM100 million in hybrid form, comprising 50 per cent in the form of grants and another 50 per cent in loan financing, to implement the Smallholder Palm Oil Replanting Financing Incentive Scheme (TSPKS 2.0) in 2024.
He said about 1,500 oil palm smallholders are estimated to benefit from the programme covering a replanting area of 5,900 hectares (ha).
“We hope the allocation will help independent smallholders to increase their incomes and productivity in the palm oil sector as a whole, “he said in response to Jamaludin Yahya (PN-Pasir Salak) who asked whether the ministry will reinforce the replanting programme via grants as opposed to loans at the Dewan Rakyat on Monday.
As of July 12 this year, a total of 413 smallholders covering 1,725 ha involving RM26.93 million in allocations were approved by the Malaysian Palm Oil Board.
There are 441,847 smallholders in Malaysia, comprising 233,439 organised smallholders and 208,408 independent smallholders as of March 2024, he said.
“Only independent smallholders are eligible to benefit from the replanting initiative,” he added.