Cabinet Committee meeting on oil palm sector postponed


  • Business
  • Wednesday, 22 Oct 2008

PETALING JAYA: A meeting of the Cabinet Committee on Palm Oil Competitiveness, scheduled for yesterday, has been put off till end of the month.

A source told StarBiz that no reason was given for the postponement of the meeting, which was supposed to be chaired by Prime Minister Datuk Seri Abdullah Ahmad Badawi.

It was to discuss various issues pertaining to the plight of the local oil palm plantation industry players following the plunge in the crude palm oil (CPO) price.

High on the agenda were a waiver on the windfall tax imposed on the oil palm plantation companies introduced in July and subsidy for fertilisers, which has gone up almost 200% in prices over the past three years.

Other topics included a waiver on planters’ current outstanding amount due to Malaysia Palm Oil Board (MPOB) cess, a discount on MPOB oil cess and a review on the RM40 per tonne discount imposed on CPO price for east Malaysia.

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