Malaysia rolls out measures to support agricultural sector amid rising costs
Kuala Lumpur, May 26 -- Malaysian Minister of Economy Akmal Nasrullah Mohd Nasir confirmed on May 25 that the country's agricultural sector is facing a multidimensional cost crisis, ranging from logistics expenses to upstream production costs. According to Minister Akmal, shipping costs to the Middle East surge between 50 and 80% and war risk insurance premiums rise to 3%. Agricultural input costs are adding further pressure, with local and imported NPK (nitrogen, phosphorus, potassium) fertiliser prices climbing by up to 45.5% and agricultural pesticides rising by up to 37.5%. To protect small business households, Akmal said the government has implemented a series of mitigation measures through the Ministry of Plantation and Commodities. K...
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