KUALA LUMPUR (July 10): Felcra Bhd is targeting to reduce Malaysia's food imports by 5% each year as the nation contends with rising overseas food purchases.

Speaking to the press at Felcra's Aidilfitri open house here today, Felcra chairman Datuk Seri Bung Moktar Radin said the "billion ringgit" initiative to reduce overseas food dependency came amid ballooning imports of RM45.6 billion last year.

Today, Bung said: "And it is expected to increase to up to RM47 billion this year.

"If we can reduce (food imports) by 5% every year, in ten years that will be a significant improvement."