RM500m sought to plant more rubber trees

PLANTATION Industries and Commodities Minister Tan Sri Bernard Dompok (pic) is seeking RM500 million from the government to plant more rubber trees in the next decade.
Malaysia's rubber sector is seeing renewed interest from investors as the current run-up in SMR20 rubber prices to an all time high of RM16.58 is fuelled by raging demand from manufacturers of tyres and healthcare products.
"We need to replant 40,000ha of rubber trees and carry out new plantings of 13,000ha a year to meet the global shortage for rubber," he said in a press conference held in Putrajaya yesterday.
"I'm trying to secure about RM500 million from the government to plant up more rubber over the next 10 years. I will table this proposal to the Cabinet soon," he added. - By Ooi Tee Ching
(Source: http://www.btimes.com.my/articles/500/Article/)