Saturday, October 9, 2010

Agriculture Sector Projected To Grow 3.3 Per Cent In Next Five Years

MELAKA, (Bernama) -- The agriculture sector, especially rubber, is projected to grow at 3.3 per cent during the next five years with the implementation of various development projects totalling RM230 billion under the 10th Malaysia Plan.

Malaysian Rubber Board chairman Datuk Wira Ahmad Hamzah said the 9.5 per cent growth in the Malaysian economy during the first half of this year will boost the agriculture sector and was also an indication that the 3.3 per cent growth could be achieved sooner.

"Performance of the rubber market from January to early October this year has been really impressive," he said when officiating the board's annual dinner at Bandar Hilir here last night.

Also present was the board's director-general Dr Salmiah Ahmad and more than 1,000 rubber producers, manufacturers and traders from Malaysia, Singapore, Vietnam, Thailand and Cambodia.

Ahmad said the impressive rubber market growth could be seen when the SMR 20 type of rubber surged to a new historic high of RM11 per kg on Oct 8, 2010, with an average price of RM9.83 per kg from January to September this year.

He said that last year, the rubber sector contributed RM25 billion in revenue and accounted for about 4.5 per cent of Malaysia's exports.

On the Cabinet's decision to include the rubber sector in the National Key Economic Areas (NKEA), Ahmad said the board was happy with the decision and it had also received several positive responses.

Last month, Plantation Industries and Commodities Minister Tan Sri Bernard Dompok announced the decision to include the rubber sector in the NKEAs.

The 10th Malaysia Plan was announced by Prime Minister Datuk Seri Najib Tun Razak last June with focus on the development of this country between 2011 and 2015.


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