KUALA LUMPUR: Local oil palm plantation owners with over 40ha of estates are expected to pay higher special cess this year to help subsidise the Government's cooking oil stabilisation scheme (COSS) introduced in May 2007.
Malaysian Estate Owners' Association (MEOA) president Boon Weng Siew said the plantation sector stood to pay about RM120mil in cess per month for COSS based on the current crude palm oil (CPO) price of RM3,500 per tonne. This was 20% higher than the RM100mil cess per month when CPO was trading at about RM2,750 last May.
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