MALAYSIA, Aug 5 (Reuters) - Malaysia's Deputy Prime Minister Datuk Seri Fadillah Yusof said the government plans to increase the country's annual latex production by 30 percent to 40,000 tons to help meet demand from the rubber downstream industry.
Fadillah, who is also the Minister of Plantations and Commodities, said the government has launched the Incentive Program for Latex Production (IPL), which is overseen by the Malaysian Rubber Board. The incentive aims to provide rubber smallholders with opportunities to increase their income by motivating them to switch to latex production instead of cup rubber blocks. The measure will also help the country reduce its dependence on latex imports worth about RM3 billion annually.