Budget 2024: Plantation and Commodities Ministry proposing measures to empower plantation, commodities sector

KUALA LUMPUR - The Plantation and Commodities Ministry (KPK) has submitted seven proposals to strengthen and ensure the sustainability of agriculture industries for the Finance Ministry’s consideration for Budget 2024, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

Fadillah, who is also the KPK Minister, said that the proposals reflected the wishes of industry players and smallholders.

He said the emphasis on sustainability is important, considering that the sector is one of the biggest contributors to the nation’s gross domestic product as well as its exports.

"However, what is more important is how the increase can contribute to the well-being or boost the people’s incomes, especially for smallholders.

"We are focusing on the forms of assistance to be given, especially in light of the low rubber prices and the rising cost of agricultural inputs," he told Bernama after his guest appearance on Bernama Radio’s 'Jendela Fikir' programme today.

Fadillah hopes that the ministry's proposals will be accepted to help boost smallholders’ incomes and maintain production.

Meanwhile, he noted that the Palestine-Israel conflict would surely have a negative impact on the global as well as the nation’s economic growth.

"Peace is very important. War affects all parties, not just Malaysia. So we hope that all wars, whether between Palestine and Israel or Ukraine and Russia, would end so that the world's (economy) can recover," he said. - BERNAMA