According to the Ministry of Plantation Industries and Commodities, from January to September this year, the agricultural products sector has contributed 64.6 billion ringgit or 5.3% to the Gross Domestic Product (GDP).
Deputy Minister of Plantation Industries and Commodities, Datuk Chan Foong Hin, pointed out that this sector also contributed 152.1 billion ringgit or 12.2% to national exports, which is a 15.3% increase compared to the same period last year.
“In terms of imports, 54.8 billion ringgit was recorded from January to October this year. This means the total trade amounted to 206.8 billion ringgit, with a trade balance of 97.3 billion ringgit.”
He said this while summarizing his department's stance in the debate on the 2025 fiscal budget policy phase in the Senate yesterday.
Additionally, Chan Foong Hin mentioned that as of December 5th, the Ministry of Plantation Industries and Commodities has approved 76.16 million ringgit in financing under the Oil Palm Replanting Scheme (TSPKS 2.0), involving 1,692 smallholders.
He also stated that there is no plan by the Ministry of Plantation Industries and Commodities and the Malaysian Palm Oil Board (MPOB) to mandate specific wastewater treatment technology for palm oil manufacturers.
Nevertheless, he said that the Malaysian Palm Oil Board has always encouraged the use of environmentally friendly and “cost-effective” modern wastewater treatment technology to meet the standards set by the Environmental Department.