Palm oil cess collection of RM30mil to support Marcop

The Plantation Industries and Commodities Ministry said the amount from the cess enforced on March 1 would go towards propping up the establishment of the Mechanisation and Automation Research Consortium of Oil Palm (Marcop).

KUALA LUMPUR: A total of RM30mil of the collection from the palm oil cess that has increased by RM2 to RM16 from RM14 per tonne will complement the RM30mil matching grant allocated to the industry by the government under Budget 2021.

The Plantation Industries and Commodities Ministry said the amount from the cess enforced on March 1 would go towards propping up the establishment of the Mechanisation and Automation Research Consortium of Oil Palm (Marcop).