Government to tackle further drop in palm oil prices

Shamsul Iskander(file pic) added that Malaysia would be partnering with the world's largest palm oil producer, Indonesia, to overcome the problem.

KUALA LUMPUR: The fall in the Malaysian crude palm oil futures prices – its biggest in more than 21 months – is alarming, but the government will undertake all efforts to handle the issue, says Deputy Primary Industries Minister Datuk Seri Shamsul Iskandar Mohd Akin.

At yesterday's close, the benchmark CPO contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 3.9% at RM1,965 a tonne, its biggest one-day fall since Feb 16 last year.