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News Admin
 
Date
 15/07/2020
News Provider
 Nur Aisha Abd. Wahab
News Source
 The Edge Markets
Headline
 Bamboo will not replace oil palm as country's main commodity — minister

The Edge Markets (14/07/2020)­ - KUALA LUMPUR (July 14): The Ministry of Plantation Industries and Commodities does not intend to replace the country's main commodity, namely oil palm, with bamboo, said Minister Datuk Dr Mohd Khairuddin Aman Razali today. 

The ministry, according to him, is strengthening the oil palm industry with the application of the latest technology as well as expanding overseas markets, diversifying its value-added products and continuing various studies on the benefits of palm oil.


“At the same time, the ministry is exploring bamboo as another future commodity in addition to various other commodities,” he said when replying to a question posed by Datuk Wira Dr Mohd Hatta Md Ramli (PH-Lumut) during the Dewan Rakyat sitting today.


He added, to develop the bamboo industry, the ministry had listed the crop as one of the forest crops that could be commercialised through the Forest Plantation Development Program (PPLH) along with eight other species, namely rubber TLC, Acacia, Kelampayan/Laran, Batai, Teak, Binuang, khaya and Sentang.


“The latest balance of the PPLH allocation is RM85 million. My ministry is in the process of changing this loan scheme to syariah-compliant financing,” he said.


To further develop the bamboo industry, the ministry through the Malaysian Timber Industry Board (MTIB) is currently in the process of producing the Malaysian Bamboo Industry Development Action Plan 2021-2030.


“In terms of bamboo prospects, in general, the global bamboo market size is large, amounting to US$68.8 billion (RM293.81 billion) in 2018. Bamboo can be used to produce plywood, furniture, food, fabric, handicraft, cutlery, construction, ecotourism and the manufacture of charcoal and pellets.


“Therefore, the potential of this market needs to be further explored because Malaysia has the advantage in various ways to develop the bamboo industry,” he said.


He also said that bamboo is able to generate an estimated net income of RM36,000 per hectare after deducting the cost of bamboo cultivation, including the cost of labour, seedlings and maintenance. 


Production per hectare is RM28,000.


For more Parliament stories, click here.


Read more at https://www.theedgemarkets.com/article/bamboo-will-not-replace-oil-palm-countrys-main-commodity-%E2%80%94-minister



ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
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