Area
Malaysia
Commodity Group
Oilseeds, oils and meals
Commodity
Oil-palm
Date
01/11/2020
Policy Category
Production
Policy Instrument
Agricultural policies
Description
Released its 2021 budget, which featured the following items concerning the palm oil sector: i) additional support for sustainable palm oil certification programmes, in particular with regard smallholders; ii) matching grants for industry investments in mechanization and automation; iii) incentives to encourage the recruitment and training of locals in the plantation sector; and iv) a revolving fund for forest farming development.
Notes
MALAYSIA agricultural policy: According to media reports, the Governments 2021 budget proposal features a number of items concerning the palm oil sector. First, the draft budget includes an allocation to support implementation of the Malaysian Sustainable Palm Oil (MSPO) scheme, in particular the adoption of certification by smallholders. Second, the budget proposes a matching grant for investment in the mechanization of the plantation sector. Third, the budget envisages incentives to encourage the recruitment and training of locals in the plantation sector a measure aimed at reducing persistent labour shortages. And fourth, the Government proposed a revolving fund for forest farming development. On the other hand, industry calls to rescind or revise a windfall profit levy collected from oil palm growers (see MPPU Jan.20) have not been considered in the budget.
