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BUSINESS • 01/11/2024 04:27 PM

IPG For Smallholders Not Activated In October -- MRB

KUALA LUMPUR, Nov 1 (Bernama) -- The Malaysian Rubber Board (MRB) has announced that the Rubber Production Incentive (IPG) for cup lump and latex has not been activated for October 2024 in Peninsular Malaysia, Sabah dan Sarawak.

In a statement, MRB said that effective January 2024, the IPG would be activated if the average monthly farmgate price for cup lump rubber is RM3.00 per kilogramme (kg) or below.

The increase of the activation price level is one of the government’s initiatives via the Budget 2024 announcement.

As for IPG for latex, it will be activated when the cup lump’s IPG is activated. 

The rate of IPG latex is fixed at RM0.90 per kg for latex with 100 per cent dry rubber content. IPG will be paid to all eligible Malaysian rubber smallholders.

The statement said for October 2024, the average price for cuplump for Peninsular Malaysia, Sabah and Sarawak was at RM3.70, RM3.40, and RM3.20 per kg, respectively.

Hence, MRB said no IPG payment was made for the month.

-- BERNAMA

 

 

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