Measures to manage palm oil stockpile

FOR the plantation sector, will zero CPO export duty help the industry as a whole?

Yong: It will definitely help to reduce stock level and make palm oil more competitive. Notwithstanding this, it is also vital that we continually develop new markets for palm oil so as to boost demand and enhance value creation, thus reducing palm oil’s dependence on demand from the conventional food and fuel markets. In this regard, we should look at expanding into high performance products such as specialty chemicals, where the market is bigger. There are technologies that we can use on palm oil to produce superior substitutes for petrochemical-based products.