PUTRAJAYA, July 29 (Bernama) — The Ministry of Plantation Industries and Commodities will discuss strategies with the private sector and interest groups to stabilise commodity prices.
Its minister, Datuk Seri Douglas Uggah Embas, said meetings would be held beginning August to ensure commodity prices remained competitive in the international market.
“It is a proactive measure to ensure commodity prices not only match that of other countries in the region but also those of developed countries by 2020.
“I admit this is not an easy task but we can do it. If this was done before, we can do it much better now.
“We need to focus, intensify our plans and strategise for the commodity sector as it was an important revenue earner for the country,” he said at the ministry’s monthly gathering and Hari Raya celebration here Wednesday.
Douglas Uggah said when commodity prices fall, the incomes of smallholders are also affected.
“For example, plummeting rubber prices resulted in rubber tappers earning less.
“It is our challenge to arrest steep falls and come up with measures to strengthen the commodity industry which includes palm oil, rubber, cocoa, timber and kenaf,” he added.