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KUALA LUMPUR (Feb 2): The Rubber Production Incentive (IPG) for January 2021 has been activated in Peninsular Malaysia, Sabah and Sarawak, according to the Malaysian Rubber Board (MRB).
It said the activation was due to the average farm-level rubber price in January 2021 for cup lump or scrap rubber being at RM2.45 per kg in the peninsula, RM2.15 per kg in Sabah and RM2.25 per kg in Sarawak. The IPG is active for January 2021 with payment in the peninsula at five sen per kg, 35 sen per kg in Sabah and 25 sen per kg in Sarawak, the MRB said in a statement today.
Starting from January 2019, the IPG will be activated if the average monthly price of Standard Malaysian Rubber 20 (SMR 20) free on board-grade rubber is at RM6.10 per kg or the farm-gate price is RM2.50 per kg or below.
Ups and downs of rubber, pepper & cocoa industry 13 Dec 2020 / 11:11 H. Pix for representational purpose only. - Reuters
KUALA LUMPUR: The rubber, pepper and cocoa industry in Malaysia is not isolated from the effects of the Covid-19 pandemic which triggered not only supply problems, but also demand, coupled with the labour shortage plaguing the agricultural sector.
In order to stabilise agri-commodity prices in the face of continuing economic challenges, the government implemented several measures including exploring new markets through promotional activities and matching new markets with local manufacturers and buyers from abroad.
Among the government incentives to assist the rubber sector is through the RRIMniaga Application which can be used by licensees to record rubber transactions to expedite the Rubber Production Incentive application process from the Malaysian Rubber Board (MRB).