September 27, 2023

Malaysian poultry farmers seek incentives, interest-free loans in federal budget

As the cost of living continues to rise and funding remains scarce, poultry farmers in Malaysia are eagerly anticipating potential incentives to be unveiled in the country's forthcoming federal budget for 2024, The Star reported.

Datuk Tan Wooi Perng, chairman of the Manjung Poultry Farmers Association in the state of Perak, expressed hope that the government would extend its support to the poultry industry and consider the introduction of interest-free loans as part of the budget.

Currently, the prevailing interest rates exceed 3%, creating significant financial challenges for poultry farmers who are struggling to generate profits.

Tan highlighted the compounding issues faced by poultry farmers, including the unpredictable weather conditions that have led to disease outbreaks among chickens, hampering their growth and weight gain.

Furthermore, there are additional costs associated with the transition from open farming systems to closed-house operations, a shift that has been recommended for poultry farmers to implement by 2024.

-      The Star