Over RM500m from palm oil windfall profit levy next year, MPOB says

"If the price remains stable at the RM3,300 per tonne and above level until 2021, the government may earn RM500 million or more," Malaysian Palm Oil Board (MPOB) chairman Datuk Ahmad Jazlan Yaakub said.

RAUB:The government is expected to earn palm oil windfall profit levy of more than RM500 million in 2021 if the price of crude palm oil (CPO) remains stable at RM3,000 per tonne until next year.

Malaysian Palm Oil Board (MPOB) chairman Datuk Ahmad Jazlan Yaakub said this is an important contribution of the palm oil industry for the plantation sector to gross domestic product (GDP) as the country grapples with the COVID-19 pandemic.