Malaysia To Offer Incentives To Boost Farm Productivity, Cut Food Imports-PM Mahathir

© Nikkei Markets

KUALA LUMPUR (Nov 22) — Malaysia will offer several incentives to raise farm productivity, boost farmers’ income and reduce food imports, Prime Minister Mahathir Mohamad said Thursday. 

The National Agrofood Policy 2.0 that seeks to detail a roadmap for the farm and food sectors is expected to speed up modernization of the industry, Mahathir Mohamad said at an event in Selangor. 

“The government will implement various initiatives in the agro-food subsector to reduce reliance on food imports via increase in productivity and income of farmers, fishermen and agro-entrepreneurs,” Mahathir said. “Hopefully this will reduce the imbalance in the country’s food trade.”

The focus is aimed at guaranteeing food security in the country where population is expected to rise to 41.2 million in 2040 from last year’s 31.6 million.

The agro-food industry totalled 37.4 billion ringgit ($8.9 billion) in 2017, rising from 36.7 billion ringgit a year earlier, Mahathir said. Farm sector output accounted for 8.17% of Malaysia’s gross domestic product in 2017, edging higher from 8.07% a year earlier. 

– By Pei Ling Gan
– Edited By Abhrajit Gangopadhyay

Malaysia To Liberalize 30% Rice Supply Chain Next Year To End Bernas’ Monopoly-Minister

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KUALA LUMPUR (Oct 17) — Malaysia plans to liberalize next year 30% of the rice supply chain that will be the first step to break the monopoly of Padiberas Nasional Bhd, or Bernas, the federal agriculture minister said Wednesday. 

“This is a soft landing strategy so that we can end the monopoly by 2021,” Salahuddin Ayub said in parliament. 

According to a concession agreement Bernas remains the sole importer and supplier of rice until 2021. 

– By Gan Pei Ling
– Edited By Abhrajit Gangopadhyay