KUCHING: Budget 2023 will drive the growth of the agri-commodity industry while benefiting Malaysian smallholders.
Deputy Prime Minister Datuk Seri Fadillah Yusof said the main focus in Budget 2023 is to empower the agri-commodity sector and ensure the country’s competitiveness can be improved.
A news report from Sarawak Public Communications Unit (UKAS) quoted him as saying that his ministry also strives to look after the welfare and well-being of small farmers across the country.
Fadillah, who is the Plantation and Commodities Minister, said the Budget 2023 focuses on development with allocations targeting the agri-commodity sector.
“Among them, the allocation of RM50 million in matching grants to encourage the automation of the plantation sector through the use of robotics and Artificial Intelligence (AI) and employ skilled local workers.
“Another RM80 million is allocated to improving the sustainability of the palm oil industry and carrying out campaigns in countering anti-palm oil activities.
“The third is an allocation of RM350 million to increase the rubber production incentive activation price level from RM2.50 to RM2.70 per kilogram.
“Fourth is an allocation of RM50 million to embark on a Cup Lump Modified Bitumen technology for the purpose of road maintenance,” he said during a press conference after the Budget 2023 tabling on Friday (Feb 24).
On the same note, he added that the agri-commodity sector has contributed as much as 5.6 per cent to the Gross Domestic Product (GDP) through an export value of RM207.3 billion.
Meanwhile, the trade surplus of RM146.5 billion will be the most important component in the Malaysian economy in 2022.
In this regard, he said the National Agri-commodity Policy 2021-2030 will continue to be the foundation to realise the aspiration of a Madani Malaysia.
